Australia’s Lynas Rare Earths posts near 22% rise in third-quarter revenue

(Reuters) – Australia’s Lynas Rare Earths on Monday posted a near 22% rise in its third-quarter revenue, helped by an uptick in the average selling price across their rare earth products.

Lynas, the world’s largest producer of rare earths outside China, reported gross sales revenue of A$123 million ($78.60 million) for the three months ended March 31, compared with A$101.2 million logged a year ago.

That compared with the Visible Alpha consensus of A$155.7 million.

($1 = 1.5649 Australian dollars)

(Reporting by Adwitiya Srivastava in Bengaluru; editing by Diane Craft)