Lynas posts 2020 loss, raises funds for plant in Australia
The world's biggest rare earths miner outside China posted an A$19.4 million loss for the year ended June 30 and outlined plans to raise A$425 million.
Experts expect the country, which accounts for more 30% of the world's copper supply, to produce 5.4 million tonnes of the metal in 2017, slightly down from the 5.5mnt it yielded last year.
Equipment and services suppliers will have to wait at least another year until they can fully feel the impact of this trend, says CSA Global — the world's second-largest mining sector consultancy.
Near the extinct volcano known as Monte Pissis, high in the Andes on the Chile-Argentina border, is a prime location for lithium, the silvery-white metal used in the production of lithium-ion batteries.