Lynas Achieves Production Record in March Quarter

Lynas Corporation Ltd. (ASX:LYC) announced that in the March quarter of this year it hit a production record of 1,089 tonnes of rare earth oxide; that means the company is on track to reach a run rate of 11,000 tonnes per year during the upcoming quarter.

Other highlights include:

  • Record sales of 751 tonnes REO with improved average selling price
  • Improved consistency and reliability of materials flow achieved at the LAMP
  • Group operations were Lost Time Injury free during the March 2014 quarter

Eric Noyrez, CEO of Lynas, commented:

The LAMP has now demonstrated growth in production and sales volumes for four consecutive quarters. This improved performance reflects greater consistency and reliability of materials flow through the plant, and we are now building considerable production momentum.

I am also very pleased to note that a favourable product mix has resulted in the average selling price realised by Lynas representing a premium to the market price.

Click here to read the full Lynas Corporation Ltd. (ASX:LYC) press release.