Mining Weekly reported that yesterday, shares of Lynas Corporation Ltd. (ASX:LYC) jumped 25 percent on the news that the company expects its Lynas Advanced Materials Plant (LAMP) to hit production and sales volume records in both March and the first quarter of this year.
Articles Tagged "Lynas Advanced Materials Plant"
The Australian reported yesterday that Lynas Corporation Ltd. (ASX:LYC) recorded a net loss of $59.29 million during the six months ended December 31, 2013, up slightly from the previous corresponding period.
Lynas Corporation recently announced the successful commissioning of the cracking and leaching extraction units at its Malaysian facility, but ongoing protests and scathing environmental reports are hindering progress.
The future of Lynas Corporation seems brighter as rare earth prices strengthen and the company makes headway in its battle to begin operations at its Malaysian plant.
The Sydney Morning Herald reported that Lynas Corporation Ltd. (ASX:LYC) anticipates that production will begin at its Malaysian rare earth plant in December. Revenue from production is expected in the first quarter of 2013.
Lynas Corporation's Malaysian rare earth processing project is once again facing hurdles; its temporary operating license was recently suspended.
Investor focus shifted to Lynas Corporation after it received confirmation that its controversial rare earths plant in Malaysia has won a temporary operating license from the country's Atomic Energy Licensing Board.
It has been a busy week across the sector with the majority of investor attention focused on the release of China's rare earth white paper.
The rare earth sector has once again been left second-guessing China; the REE powerhouse has gone against previous indications and increased its export quota.
Following months of negative media exposure, Lynas Corporation is fighting back against what it calls unfounded criticism.