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Lynas' fiscal Q1'20 rare earths production down QOQ to 3,926 tonnes

Lynas Corp. Ltd. reported lower production of rare earths during first fiscal quarter of 2020 ended Sept. 30, in line with the production limit applied by the Malaysian government for calendar year 2019.

Rare earth oxide production totaled 3,926 tonnes, down from 4,651 tonnes in the previous quarter.

Rare earth oxide sales went down to 4,186 tonnes during the period from 4,723 tonnes in the previous quarter, with the decline attributed to the negative short-term effect on market confidence by the continuing U.S.-China trade tensions.

Neodymium and praseodymium production, on the other hand, totaled 1,242 tonnes, lower than the 1,505 tonnes in the last quarter of fiscal 2019.