Lynas Rare Earths cuts production as prices languish

Mark WembridgeResources reporter

Oct 30, 2024 – 1.24pm

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A slowdown in demand for electric vehicles has weighed on Lynas Rare Earths, dragging down quarterly revenue and production at the West Australian miner.

Lynas, the largest producer of rare earths outside of China, on Wednesday posted revenue of $120.5 million for the three months to September 30, down from $128.1 million in the same period last year.

Mark Wembridge covers resource companies for The Australian Financial Review, based in Perth. He formerly worked for the Financial Times in London and Hong Kong.