- Lynas Rare Earths (LYC) receives ministerial approval for its rare earths processing facility in Kalgoorlie, Western Australia
- The approval is for the implementation of the facility and outlines the conditions for the construction and operation
- Lynas said it is pleased to be progressing this important project to establish a critical minerals value
- The company is now working to finalise the secondary approvals required for project implementation
- On market close, Lynas is down 0.45 per cent and trading at $8.91 per share.
Lynas Rare Earths (LYC) has received ministerial approval for its rare earths processing facility in Kalgoorlie, Western Australia.
The approval is for the implementation of the facility and outlines the conditions for the construction and operation.
Lynas said it is pleased to be progressing this important project to establish a critical minerals value, which meets the strict environmental conditions of Western Australia regulators.
“This is consistent with our environmental, social and governance (ESG) approach, our
commitment to operating in a way that is safe for our people, our communities and the
environment and our objective to contribute positively to the communities in which we
operate,” the company said.
Lynas is now working to finalise the secondary approvals required for project implementation.
Last month, Lynas released its December quarter results were it delivered record sales revenue on the back of increased production.
The production result includes 1,359 tonnes of neodymium and praseodymium (NdPr), whose market price experienced a 10-year record high.
The company’s sales revenue surged to a record $202.7 million for the quarter, which it says reflects the “continued buoyancy of the market” and strong customer demand.
On market close, Lynas was down 0.45 per cent and is trading at $8.91 per share.