LAMP achieves production growth for fourth consecutive quarter – Lynas
PERTH (miningweekly.com) – Rare earths producer Lynas has reported record production at its Lynas Advanced Materials Plant (LAMP), in Malaysia for the three months to March.
During the quarter, Lamp produced a record 1 089 t of rare-earth oxide (REO), with Lynas telling shareholders on Tuesday that the project was on track to produce at a run rate of 11 000 t/y by the June quarter.
Production for the March quarter was up 47% on the previous quarter, while the volume of REO shipped during the quarter was also up by 84% to a record 751 t.
“The LAMP has now demonstrated growth in production and sales volumes for four consecutive quarters. This improved performance reflects greater consistency and reliability of materials flow through the plant, and we are now building considerable production momentum,” said Lynas CEO Eric Noyrez.
He noted that the favourable product mix had also resulted in the average selling price representing a premium to the market. During the quarter, Lynas achieved an average selling price of $22.63/kg, up 5% on the previous quarter.
At current prices, Lynas was expected to be operating cash flow neutral at a monthly rate of around 750 t.
“In addition, the LAMP organisational structure has evolved, enhancing operational performance. Organisational and personnel changes in the areas of shift supervision, repairs and maintenance procedures, and modifications to process automation all underpin the improved performance,” Noyrez said.
He added that Lynas would continue to seek opportunities for further improvements and cost efficiencies.
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