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OPERATIONS UPDATE
Higher Production and Sales in March quarter in line with guidance
Highlights
? Record production of 1089 tonnes REO for the March 2014 quarter – on track for 11,000 tpa run rate during the June 2014 quarter ? Record sales of 751 tonnes REO with improved average selling price ? Improved consistency and reliability of materials flow achieved at the LAMP ? Group operations were Lost Time Injury free during the March 2014 quarter
Lynas Corporation (ASX:LYC, OTC:LYSDY) is pleased to inform the market of substantial progress during the March 2014 quarter. Commercial production of Rare Earth Oxide (REO) products at the Lynas Advanced Material Plant (LAMP) in Malaysia in the March 2014 quarter was higher than the December 2013 quarter, consistent with guidance provided by Lynas at the end of January 2014.
Additionally, shipments of REO products during the March 2014 quarter were also higher than the December 2013 quarter.
Total tonnes produced for the March 2014 quarter were 1089 tonnes, on an REO equivalent basis, up 47% on the prior quarter. Total tonnes shipped were 751 tonnes, on an REO equivalent basis, up 84% on the prior quarter. Timing of customer delivery accounts for the variance between production and sales volumes.
The average selling price achieved for the quarter increased by 5% to US$22.63/kg REO (revenue basis)