Lynas Rare Earths, a major Western world critical minerals producer, experienced a decline in cash reserves and production output during the December quarter. While sales receipts increased due to higher average selling prices, impurity issues at the new Kalgoorlie processing plant resulted in a 23% decrease in NdPr production compared to the previous quarter. Despite these challenges, the company maintains its guidance for $400-500 million in capital expenditures for the year.
Western world critical minerals major Lynas Rare Earths has delivered an underwhelming December quarter performance, with its cash reduced by more than A$100 million to $308 million.The Amanda Lacaze-led miner produced circa 23% less NdPr quarter-on-quarter after impurity issues impacted output from the new Kalgoorlie processing plant in December.Lynas indicated the issue represented one of the typical challenges faced by new operations and would be resolved.
"This was due to a continuing focus on high-value strategic customers and optimised product mix, complemented by favourable foreign exchange rates," Lynas said."Gross sales revenue of $141.2 million was the highest since the June 2023 quarter."However, NdPr pricing is expected to remain low due to "continuing subdued inside-China demand and the extended lunar new year holiday period".
Lynas Rare Earths Critical Minerals Production Sales Ndpr
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