Lynas on track to expand operations

Rare earths miner Lynas Corporation says it's on track to meet its second quarter target of producing 11,000 tonnes per year from its processing plant in Malaysia.

In its quarterly report released today Lynas said it was “well funded” and expansion of its controversial processing plant to 22,000tpa was nearing completion.

 

“The phase 2 project remains lost time injury free after more than 5.5 million hours worked,” it said.

 

While the processing plant continues to be opposed by some parts of the Malaysian community, Lynas said it remained committed to its community consultation program, and had opened the doors multiple times to run tours for officials and the public.

 

“During the period, Lynas hosted 19 separate site visits for 596 visitors from universities, government agencies, local community groups, and neighbouring companies,” it said.

 

“Lynas' engagement with the Malaysian community will continue for the life of the plant.”

 

In other parts of the business Lynas said 15,593 dry tonnes of rare earths concentrate was bagged over the quarter at the concentration plant near the Mt Weld mine in Western Australia.

 

But compared with the previous quarter Lynas said rare earth prices from Mt Weld had decreased by 13 per cent to $US37.22/kg.

 

The company said prices remained “down significantly” from the same time last year, but demand was forecast to grow over the medium term.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.