Australia’s Lynas announces planned shutdown of Malaysia ops

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During the shutdown, key personnel from the Malaysian cracking and leaching segment will be deployed to assist with the start-up process of its rare-earths processing facility in Kalgoorlie in Western Australia, Lynas said.

The company also reported a 21.8% fall in first-quarter revenue on Friday, hurt by lower product prices and continued accumulation of inventory.

The world’s largest producer of rare earths outside China said sales revenue was A$128.1 million ($81.04 million) for the three months to Sept. 30, compared with A$163.8 million a year ago and a consensus estimate of A$159 million, according to Barrenjoey.

($1 = 1.5808 Australian dollars)