Pro­duc­tion costs to rise

Townsville Bulletin - - Investor -

LY­NAS Cor­po­ra­tion Ltd has in­creased the cost of pro­duc­tion es­ti­mate for its Mount Weld rare earths mine be­ing com­mis­sioned in West­ern Aus­tralia. The in­crease is to $ 10/ kg, from $ 7/ kg. The up­dated es­ti­mate arose from changes in ex­change rates and move­ments in prices for key reagents. About 62 per cent of the cash costs would be gen­er­ated at its ad­vanced ma­te­ri­als plant in Malaysia, with the bal­ance in WA where the ore will ini­tially be pro­cessed. The first feed of con­cen­trate into the ad­vanced ma­te­ri­als plant re­mains on sched­ule for the third quar­ter of 2011.

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