Australia's Lynas posts 50% jump in annual profit

Credit: REUTERS/Lim Huey Teng

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)

((; 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.


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