© Reuters. FILE PHOTO: A small toy determine and mineral imitation are seen in entrance of the Lynas Uncommon Earths emblem on this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration
(Reuters) – Australia’s Lynas Uncommon Earths mentioned on Friday there will likely be a deliberate shutdown of all its operations in Malaysia besides the phase for combined uncommon earth carbonate processing within the December quarter.
Through the shutdown, key personnel from the Malaysian cracking and leaching phase will likely be deployed to help with the start-up strategy of its rare-earths processing facility in Kalgoorlie in Western Australia, Lynas mentioned.
The corporate additionally reported a 21.8% fall in first-quarter income on Friday, harm by decrease product costs and continued accumulation of stock.
The world’s largest producer of uncommon earths exterior China mentioned gross sales income was A$128.1 million ($81.04 million) for the three months to Sept. 30, in contrast with A$163.8 million a yr in the past and a consensus estimate of A$159 million, based on Barrenjoey.
($1 = 1.5808 Australian {dollars})
