Iron ore price hits 3-week low on firmer supply, softer steel outlook
China unveiled tax incentives on home and land transactions on Wednesday, aiming to support its crisis-hit property market.
Lynas Rare Earths, the world’s biggest rare earths miner outside China, on Thursday said its Kalgoorlie processing facility in Western Australia has achieved its first feed.
The mixed rare earth carbonate from the facility will be introduced to the Lynas Malaysia plant commencing late in the March quarter, the company said.
“This is an exciting milestone as we continue to expand our operating footprint and capacity to meet growing global demand for separated rare earth materials,” said Amanda Lacaze, Lynas Rare Earths CEO and managing director.
The company’s Malaysia plant, which is currently shut, will see production recommencing in January.
Lynas’ Malaysian operations have been a sore point for the company in the past but a recent amendment for its operating license to allow the Australian firm to import raw materials containing natural radioactive material and process rare earths until March 2026 was a sigh of relief.
(By Nausheen Thusoo; Editing by Maju Samuel)
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