Lynas sees opportunity in coronavirus outbreak; profit slides

Lynas, the world's largest rare earths producer outside China, earlier posted a nearly 80% plunge in half-year profits, hurt by a weak market, a security bond payment at its Malaysian processing facility and higher operational expenses.

MELBOURNE: Australian miner Lynas Corp is talking to customers about the risks of relying too heavily on China for rare earth supplies in the wake of disruptions from the new coronavirus outbreak, the company's CEO said on Friday.

There has so far been little direct impact on the market for the metals used in everything from electric vehicles to military equipment, given current levels of oversupply, Lynas Chief Executive Amanda Lacaze told an analyst briefing.