Lynas On Track For 11,000 TPA Run Rate By June Quarter

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KUALA LUMPUR, April 1 – Lynas Corp Ltd says it is on track for a 11,000 tonnes per annum (tpa) run rate of Rare Earth Oxide (REO) products by the June 2014 quarter following substantial progress during the March 2014 quarter. In a statement Tuesday, Lynas said for the quarter, it achieved record production of 1,089 tonnes REO and record sales of 751 tonnes REO with average selling price improving by five per cent over the prior quarter to US$22.63 (US$1=RM3.2595) per kg REO (revenue basis).

Its Chief Executive Officer Eric Noyrez said the Lynas Advanced Material Plant (LAMP) has demonstrated growth in production and sales volumes for four consecutive quarters, and the improved performance reflects consistency and reliability of materials flow through the plant. “Organisational and personnel changes in the areas of shift supervision, repairs and maintenance procedures and modifications to process automation all underpin the improved performance. “We will continue to seek areas where there may be opportunities for further improvement and cost efficiencies,” Noyrez added.

— BERNAMA

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