Australia's Lynas Rare Earths on Tuesday posted a record quarterly revenue as demand for the specialized metals it mines surged amid a global push to electrify vehicles and curb carbon emissions.
A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustrationon Tuesday posted a record quarterly revenue as demand for the specialized metals it mines surged amid a global push to electrify vehicles and curb carbon emissions.
The minerals are used by automakers to make magnets for electric vehicles. Rare earths are also used in a wide range of goods including iPhones and laptops."The market price for NdPr continued to strengthen during the March quarter and our customers continue to advise that demand for rare earths remains strong, particularly in automotive industry," Chief Executive Officer Amanda Lacaze said in a statement.
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