Rare earth producer Lynas seizes austerity measures

02.07.2014 (www.4investors.de)

The Australian producer of so-called rare earths Lynas (WKN 871899 / ASX LYC) will relocate its headquarters to Malaysia, where the processing plant of the company is. Lynas also wants to reduce, among other things, the workforce, to reduce costs, while working to increase production.

After the company suffered some setbacks in this endeavor both at the mine in Australia as well as on the plant in Malaysia, Lynas announced yesterday with, that important elements of the production had worked in the past quarter with the desired capacity.

According to Lynas CEO Amanda Lacaze the transfer of the headquarters is the first of a series of measures, with whom they wanted to simplify the approach. More austerity measures include the reduction of the workforce, the renegotiation of contracts with suppliers and improving the approach to procurement.

Lynas, one of only two producers of rare earth oxides outside of China, has since commissioning of the 873 My. AUD teuren Anlage im November 2012 struggling with technical problems. The company is building the rare earths from Mount Weld to his in Western Australia and then shipped them to the facility in Pahang.

Das langsame Hochfahren der Anlage und ein Einbruch der Rare earth-Preise haben sich auf die Bilanz des Unternehmens ausgewirkt, which was forced in May, 40 My. Take AUD fresh capital and 215 My. Reschedule dollars in liabilities. Lynas has Lacaze transfer the management in June. It builds on the marketing experience of the former telecommunications manager.

Lynas has also declared, that they would wait a year, until the output with the full capacity of 22.000 Increases tonnes per year, to give the market time, to recover.

Those: http://www.4investors.de/php_fe/indexgoldinvest.php?section = goldinvest&ID = 2487

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