|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's range||4.4100 - 4.4100|
|52-week range||4.4100 - 4.4100|
|Beta (5Y monthly)||1.01|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The world's largest producer of rare earths outside China said production of neodymium and praseodymium (NdPr), used in everything from iPhones to weapons, rose to 1,342 tonnes in the quarter ended in September from 1,242 tonnes a year earlier. Lynas said a NdPr production rate of 75% is enough to meet demand as the coronavirus crisis continues to weigh on demand. Rare earths are critical minerals used in a wide range of everyday goods, including magnets and electric cars, and has become a key strategic consideration for Washington as it looks to reduce U.S. reliance on China, the world's biggest producer.
Malaysia has approved Australian rare earths miner Lynas Corp's application to build a permanent disposal facility for waste treatment, a minister said on Tuesday. Lynas can build its facility in a waste disposal site identified by the Pahang state government, Khairy Jamaluddin the science, technology and innovation minister, said in parliament. Identifying a location for the permanent disposal facility was part of the requirements set by the Malaysia government when it renewed Lynas' licence to operate in the country last year.
The 'Phase 1' funding forms part of a concerted effort by Washington to reduce the United States' reliance on China as the world's largest producer of the strategic minerals used to make missiles, cell phones to a ranger of other high-tech equipment. Lynas, the largest rare earth producer outside China, expects to finish the planning and design work for the facility in fiscal 2021.