Australia's Lynas posts record Q2 revenue on robust demand for rare earths

Published: 2022-01-18 16:38:45 ET LYC.AX

Jan 19 (Reuters) - Australia's Lynas Rare Earths Ltd posted record second-quarter revenue on Wednesday, as demand for metals used in electric vehicles (EVs) continued to grow amid a global push for reducing carbon emissions.

The world's largest producer of rare earths outside China said revenue rose to A$202.7 million ($145.58 million) in the three months to Dec. 31 from A$119.4 million a year earlier.

Production of neodymium and praseodymium (NdPr), however, fell to 1,359 tonnes from 1,367 tonnes a year earlier.

($1 = 1.3924 Australian dollars) (Reporting by Yamini C S in Bengaluru; Editing by Vinay Dwivedi)