Australian miner Lynas Corp., one of two rare earths producers outside China, reported a 24% increase in revenue in the September quarter from the previous quarter as the first stage of its Malaysian plant finally moves toward full capacity.
Lynas’ progress is being closely watched as it tries to attract institutions to invest in its battered shares after years of disappointment following delays in opening and ramping up production at the controversial Malaysian plant. Production rose to 2,043 tons of rare earths oxides in the first quarter of the 2015 financial year, Lynas said on Wednesday, which was more than half the volume it produced in the whole of the previous year.
Revenue rose to A$32.9 million ($28.7 million) in the September quarter from A$26.5 million in the June quarter, while costs fell 14 percent to A$42.7 million, including restructuring costs.
Yttria’s 7.5% decline made it this week’s biggest mover on the weekly Rare Earths MMI®, closing at CNY 37,000 ($6,024) per metric ton. Cerium oxide prices fell to CNY 14,000 ($2,279) per metric ton, down from CNY 15,000 ($2,442) a week ago. Lanthanum oxide finished the week at CNY 14,000 ($2,279) per metric ton after falling 6.7%.
The price of praseodymium neodymium oxide dropped 2.7% this week, closing out the third consecutive week of falling prices at CNY 284,000 ($46,241) per metric ton. The price of neodymium declined 2.2% over the past week, settling at CNY 357,000 ($58,127) per metric ton. After a 2.2% decline, neodymium closed out the week at CNY 357,000 ($58,127) per metric ton. Praseodymium oxide prices were off slightly at CNY 490,000 ($79,782) per metric ton, down from CNY 500,000 ($81,410) a week ago.
The price of dysprosium oxide declined 1.4% over the past week, settling at CNY 1,400 ($227.95) per kilogram. Europium oxide traded sideways last week, hovering around CNY 2,400 ($390.77) per kilogram. Prices for rare earth carbonate remained constant, closing the week at CNY 25,000 ($4,070) per metric ton. At CNY 18,500 ($3,012) per metric ton, the price of samarium oxide did not change since the previous week.
Following a steady week, prices for terbium metal closed flat at CNY 3,600 ($586.15) per kilogram. Terbium oxide prices held steady from the previous week at CNY 2,600 ($423.33) per kilogram. Prices for yttrium remained constant, closing the week at CNY 270.00 ($43.96) per kilogram.
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