Leading Rare Earths Miner Sees Profits Fall as Prices Sag

Australian miner Lynas Rare Earths reported that its full-year profits last year plunged 85%. Image via @EkonomiRakyatMY.

One of the world’s largest rare earths producers outside China reported slumping net profits Wednesday, pointing to a “challenging” market for the hard-to-source metals used in renewable energy technologies.

Australian miner Lynas Rare Earths digs up and refines so-called “rare earth elements” used in the manufacture of smartphones, wind turbines, and electric vehicle motors.

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by Eric Olander

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