© Reuters. FILE PHOTO: A small toy figure and an imitation mineral are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration
(Reuters) – Australia’s Lynas Rare Earths said on Friday there will be a planned shutdown of all its operations in Malaysia, except the rare earth mixed carbonates processing segment, in the December quarter.
During the shutdown, key personnel from Malaysia’s cracking and leaching segment will be deployed to assist with the commissioning process of its rare earths processing facility in Kalgoorlie, Western Australia, Lynas said.
The company also reported a 21.8% drop in first-quarter revenue on Friday, hurt by lower product prices and continued inventory buildup.
The world’s largest producer of rare earths outside China said sales revenue was 128.1 million Australian dollars ($81.04 million) for the three months to September 30, compared with 163.8 million Australian dollars a year ago and a consensus estimate of 159 million Australian dollars, according to Barrenjoey.
($1 = 1.5808 Australian dollars)
