Lynas Rare Earths (LYSCF) is an Australian rare-earth metal mining company that’s listed on the Australian Securities Exchange (ASX).
This company is currently the only major miner and processor of rare-earth materials outside of China – with a mining and concentration facility in Western Australia, as well as a refining plant in Malaysia.
According to FactSet, the Australian government awarded LYSCF a $14.8 million grant in July as a part of its Modern Manufacturing Initiative.
Through this, LYSCF was given the ability to commercialize an industry-first rare-earth carbonate refining process.
In the same month, the company also reported its fourth-quarter neodymium and praseodymium production…
These metals are used to power permanent magnet motors, and LYSCF said it produced 1,393 tons compared to last year’s 1,359 tons.
However, LYSCF also generated $185.9 million in revenue versus 2020’s revenue of $110 million. This helped bring the company’s total cash balance to $580.8 million.
So, as the boom in the rare-earth metal industry continues, LYSCF should benefit, as these materials are used in everything from electronics, vehicles, and more.
And given the fact that LYSCF shares are trading around $5, any major development in the space could result in massive gains.
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