Rare Earths producer Lynascorp has a new CEO today. Lynas’ board has decided that it wants to change the company’s course. The miner, still unable to overcome its financial difficulties, has replaced Eric Noyrez with Amanda Lacaze as CEO. The surprise move suggests that Noyrez may have been “persuaded” to resign by the Board due to the ongoing delays in the Lynas’s Advanced Malaysian Processing plant (LAMP) reaching full capacity, according to Investorintel.com.
It’s been a difficult year for Lynas and Noyrez’s entire tenure at the helm was plagued by protests and falling stock prices. No official reason was given for his departure and Chairman Nick Curtis did not offer any reason; however, Curtis and the Board may have pondered the shift toward Lacaze’s leadership as early as last December when she was appointed as non-executive director to the Lynas Board.
This week, Rare Earths MMI® metals traded sideways, with cerium oxide flattening at CNY 20,500 ($3,283) per metric ton. At CNY 1,610 ($257.87) per kilogram, the price of dysprosium oxide did not change since the previous week. Europium oxide prices held steady from the previous week at CNY 4,000 ($640.66) per kilogram.
Closing at CNY 19,500 ($3,123) per metric ton, lanthanum oxide remained unchanged for the week. Neodymium remained essentially flat from the previous week at CNY 415,000 ($66,469) per metric ton. Neodymium prices held steady from the previous week at CNY 415,000 ($66,469) per metric ton. Following a steady week, prices for neodymium oxide closed flat at CNY 320,000 ($51,253) per metric ton.
At CNY 580,000 ($92,896) per metric ton, the week finished with no movement for praseodymium oxide. Closing at CNY 25,000 ($4,004) per metric ton, rare earth carbonate remained unchanged for the week. At CNY 18,500 ($2,963) per metric ton, the price of samarium oxide did not change since the previous week. Prices for terbium metal remained constant, closing the week at CNY 4,600 ($736.76) per kilogram.
Terbium oxide traded sideways last week, hovering around CNY 3,200 ($512.53) per kilogram. At CNY 51,000 ($8,168) per metric ton, the price of yttria did not change since the previous week. Yttrium remained essentially flat from the previous week at CNY 290.00 ($46.45) per kilogram.
The Rare Earths MMI® collects and weights 14 global rare earth metal price points to provide a unique view into rare earth metal price trends. For more information on the Rare Earths MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.