Lynas posts record revenue on strong demand for rare earths

Australia’s Lynas Rare Earths Ltd posted record second-quarter revenue on Wednesday, as demand for metals used in electric vehicles (EVs) grew amid a global push for reducing carbon emissions.

The prices of neodymium and praseodymium (NdPr), widely used to make magnets that power EV motors, have nearly tripled over the past 14 months, as companies and governments step up efforts to meet climate…