Lynas Rare Earths Limited (AU:LYC) has released an update.
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Lynas Rare Earths Limited reports a profitable year despite market challenges, with a net profit after tax of $84.5 million and notable operational achievements such as the new Kalgoorlie Processing Facility and improvements to the Malaysian operations. The company has managed to reduce total costs by 17%, maintaining a competitive position and ending the year with a strong cash balance of $523.8 million. Lynas’ strategic management of sales and inventory, coupled with capital investments in growth projects, positions it well for future market expansion.
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