Reported about 3 hours ago
Lynas Rare Earths has expressed significant uncertainty regarding its heavy rare-earths processing plant in Texas and reported a larger-than-expected decrease in annual profits. Negotiations with the U.S. Department of Defense for an offtake agreement are ongoing, but Lynas warns that construction may be delayed. The company's net profit fell sharply to A$8 million, missing estimates, partly due to depreciation costs and lower production at its facilities. Lynas is planning to raise A$750 million to fund new growth opportunities.
Source: YAHOO