News: LYC Lynas Posts Qtrly Sales Revenue A$157.5 Million

July 31 (Reuters) - Lynas Rare Earths Ltd (LYC) :

• QTRLY TOTAL REO PRODUCTION 4,475 REOT VERSUS 3,650 REOT REPORTED LAST YEAR
• QTRLY SALES REVENUE A$157.5 MILLION VERSUS A$294.5 MILLION REPORTED LAST YEAR
• QTRLY NDPR PRODUCTION 1,864 REOT VERSUS 1,579 REOT REPORTED LAST YEAR
• FINAL MAJOR CONSTRUCTION ACTIVITIES FOR KALGOORLIE RARE EARTHS PROCESSING FACILITY CONTINUED DURING QUARTER
• CONTINUE TO ACCUMULATE INVENTORY AS CO PLANS FOR START UP OF KALGOORLIE FACILITY
• TEAM IS NOW TARGETING FIRST PRODUCTION OF MREC (MIXED RARE EARTH CARBONATE) IN SEPTEMBER 2023 AT KALGOORLIE
• FUTURE PRICING TRENDS WILL DEPEND ON ECONOMIC RECOVERY IN CHINA AND CHINESE PRODUCTION QUOTA FOR SECOND HALF OF 2023
• ONLY MAJOR AREA REQUIRED FOR FIRST PRODUCTION FROM KALGOORLIE IS WASTE GAS TREATMENT PLANT
• MOBILISED MEMBERS OF LYNAS MALAYSIA TEAM TO ASSIST WITH FINAL STAGES OF COMMISSIONING AND INITIAL STAGES OF PRODUCTION AT KALGOORLIE
• CONTINUE TO SEEK REVIEW OF OUR MALAYSIAN OPERATING LICENCE CONDITIONS
• MT WELD EXPANSION PROJECT IS PROGRESSING AS PLANNED