Lynas posts record revenue on strong demand for rare earths

Oil prices jumped to five-month highs this week, pushed higher by a bullish cocktail of supply outages, geopolitical unrest and a sputtering shale sector.

The company forecasts total metal production of between 82,000 to 86,000 gold-equivalent ounces in 2019.

The rare earths miner said its board had concluded it would not engage with retail and industrial conglomerate Wesfarmers, stating its unsolicited takeover offer undervalues Lynas' intellectual property.

Hindustan produces around 40,000 tonnes of copper per years, but the company plans to increase production to around 200,000 tonnes by 2025.

Freeport-McMoRan plans no dividend raises, acquisitions or debt buybacks over the next two years.

The company is reportedly working with advisers to list in Jakarta as early as the fourth quarter.

Komatsu’s “zero-emission” electric digger mirrors a push by global automakers to produce vehicles that meet stricter emissions standards.

There are some signs that the rapid decline in thermal coal prices in recent months has moved the market into oversold territory.

Lynas, one of the world’s main suppliers of rare earths outside China, said it was open to processing materials closer to its Australian mine if that meant it can renew its licence in the Southeast Asian country.