Lynas Rare Earths is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
Sales revenue hit $185.9 million in the June quarter, up from $110 million in the three months to March 30.
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Lynas said the result reflected users and governments around the world recognising the need to diversify the rare earths supply chain, which was dominated by China.
Lynas has started work on a new cracking and leaching plant in Kalgoorlie, and the rare earths material from the Kalgoorlie plant will be sent to both Kuantan and a planned heavy and light rare earths downstream processing plant in Texas.
The 1H21 investor presentation released in February 2021 shows the strong sales growth from the 1H20 comparison. We’ll review the 2H21 numbers when released in late August.
