Why it matters: The cost of Lynas’ Kalgoorlie plant has blown out to $730 million.
Lynas is withholding a portion of supply from the market in response to depressed prices.
It did not declare a dividend.
Lynas Rare Earths blames inflationary pressures, approval delays and deadlines imposed by Malaysian authorities for a big cost blowout on a downstream processing plant under construction in Western Australia.
The cost of building the cracking and leaching plant at Kalgoorlie has blown out to $730 million, up from $575 million, as Lynas runs down the clock to have it up and running by December 31.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
