Modern processing techniques for monazite concentrate

Yu. M. Trubakov, VNIIKhT JSC, Moscow, Russia, V. D. Kosynkin, O. N. Krivolapova, VNIIKhT JSC, Moscow, Russia, National University of Science and Technology MISiS, Moscow, Russia
2019 Tsvetnye Metally  
is pleased to enclose its Financial Report for the year ending 30 June 2017 (FY17). During FY17, the company has improved and strengthened the business on all operational measures. Lynas is now the second largest NdPr producer in the world and the largest supplier of NdPr to the free market. In summary, the financial and operational highlights of FY17 were:  Safe, stable, record production rates at the LAMP. The total production of rare earth oxides (REO) in FY17 was 16,003 tonnes up from
more » ... 1 tonnes in FY16 and reflects the positive benefits of a full year with a fourth SX5 train operational.  Mt Weld continued to operate safely and efficiently. A second mining campaign,  Record total sales revenue after sales commission in FY17 of $257.0 million, compared with $191.0 million in FY16, reflects increased production volumes, and strong relationships with strategic customers in Japan and China.  Positive cash flows of $34.0 million from operating activities in FY17, were a significant improvement on FY16's $4.1 million.  Positive adjusted EBITDA of $31.9 million for the full year was a first for the company after many years of negative EBITDA as the company moved through its start-up phase. Note 6 in the Financial Report contains more details.  A further extension of both of Lynas' debt facilities until mid-2020 and significant reductions in the interest rates attached to those facilities was successfully negotiated, reflecting the support of both lender groups. The debt amendments have reset the balance sheet and better positioned the company for future growth. Lynas has now been operating safely for 5 years in a way that is safe for workers, safe for the community and safe for the environment. The responsible management of ACN 009 066 648 residues at both facilities and our programmes to engage and contribute positively to our local communities continue to be areas of focus for the company. OUTLOOK The significant operational and production improvements achieved in FY17 have confirmed Lynas' leading position in the global rare earths market and its reputation as a highly reliable, sustainable supplier of quality rare earth materials. The improved global market conditions in the second half of the financial year have continued into the early part of FY18. Lynas expects this momentum in the demand and price of NdPr to continue as this material increases in importance and relevance in a world more focused on a future of clean energy and the manufacture of high technology solutions. Lynas has an excellent resource, reliable and well-performing processing facilities, an engaged customer portfolio and an experienced and dedicated management team. The company believes it is now in a position to reap the benefits of the strong demand and improved market conditions. For all media enquiries please contact Renee Bertuch from Cannings Corporate Communications on +61 2 8284 9990.
doi:10.17580/tsm.2019.12.07 fatcat:5j3ffqsel5gvdgnzjitemuobvq