Australian rare earths miner Lynas' revenue slumps on falling prices

Reuters04-24

(Reuters) -Australian miner Lynas posted a slump in third-quarter sales revenue on Wednesday on the back of a plunge in prices for rare earths but signaled a slight recovery in April. Prices of rare...

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It missed a Visible Alpha consensus estimate of A$146.3 million, according to Morgan Stanley.Lynas raised the budget for its Kalgoorlie facility to A$800 million from A$730 million it projected in October.The company said its Mt Weld Expansion Project in Western Australia scheduled was on track with construction activities progressing as planned during the quarter.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"XAO.AU":"标普/澳交所 普通股指数","LYC.AU":"LYNAS RARE EARTHS LTD","XKO.AU":"标普/澳交所 300指数","XJO.AU":"标普/澳交所 200指数"},"translate_title":"澳大利亚稀土矿商Lynas因价格下跌收入下滑","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XAO.AU":1,"XJO.AU":1,"XKO.AU":1,"LYC.AU":0.9},"content_text":"(Reuters) -Australian miner Lynas posted a slump in third-quarter sales revenue on Wednesday on the back of a plunge in prices for rare earths but signaled a slight recovery in April. \n Prices of rare earths were fairly weak during the third quarter, as increased production in China and slower-than-expected demand growth recovery remained a drag. \n \"Market prices have started to increase in April,\" the world's largest producer of rare earths outside of China said. \n The firm's quarterly sales revenue fell to A$101.2 million ($65.64 million) in the three months to March 31, compared with A$242.8 million a year earlier. It missed a Visible Alpha consensus estimate of A$146.3 million, according to Morgan Stanley. \n Lynas raised the budget for its Kalgoorlie facility to A$800 million from A$730 million it projected in October. \n The company said its Mt Weld Expansion Project in Western Australia scheduled was on track with construction activities progressing as planned during the quarter. \n ($1 = 1.5418 Australian dollars) \n (Reporting by Rishav Chatterjee and Sherin Sunny in Bengaluru; Editing by Sriraj Kalluvila)","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429129920"}