Lynas Rare Earths announced quarterly activities report

Lynas Rare Earths Limited (ASX: LYC) announced that the sales revenue of AU$232.7 million increased as compared to the previous quarter and previous corresponding period. The company's sales receivables increased to AU$168.4 million from AU$151 million in the corresponding period. Instead of flat market pricing, the business obtained a higher sales price for SEG and new La-Ce specialty goods, raising the average selling price, with an average China Domestic Price for NdPr of US$83/kg during the quarter.

The NdPr production of 1,508 tonnes and total REO production of 4,457 tonnes was attained for the quarter, a surge as compared to the previous quarter and the corresponding prior period. The cash payments for CAPEX, exploration, and development increased to AU$141.9 million from AU$38.3 million in the corresponding period, reflecting the company's progress on all three major growth projects.

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