Lynas Rare Earths Limited (ASX:LYC) has released its September 2022 quarter results (Q1 FY2023). The Company continued to experience substantial operational challenges together with a complete outage of water supply in Malaysia. There was also catastrophic equipment failure which impacted the production for 16 days during the quarter.
However, the Company used mitigating approaches like sourcing water from alternative local sources as well as trucked water. As a result, LYC could achieve quarterly production of 1,045 tonnes Ready for Sale Production Volume of NdPr and sales revenue of AU$163.8 million.
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