US Markets

Australia's Lynas posts 50% jump in annual profit

Credit: REUTERS/Lim Huey Teng

Australian rare earths miner Lynas Corp posted a 50% jump in annual profit on Thursday amid record production of major rare earth elements.

Aug 29 (Reuters) - Australian rare earths miner Lynas Corp LYC.AX posted a 50% jump in annual profit on Thursday amid record production of major rare earth elements.

The largest rare earths producer in the world outside China, said profit after tax was A$80 million ($54.03 million) for the year ended June 30, up from A$53.1 million a year ago.

($1 = 1.4806 Australian dollars)

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Sandra Maler)

((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN; +91 806 749 1637;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More