Rare earths developer Lynas Corporation Limited
(ASX:LYC) has achieved producer status with the first feed to kiln and start up of operations now underway in Malaysia.
Following lengthy delays CEO Nick Curtis says the operation of the rare earths refinery is now a reality and a significant milestone for the company.
Lynas Corporation plans to progress to continuous feed by next week and ramp-up operations over the next three to four months until first commercial sales and cash generation.
The company will ship rare earths concentrate to Malaysia from its Mt Weld mine in Western Australia which is understood to hold the richest known deposit of rare earths in the world.
Shares in Lynas Corporation closed at $0.675 before the announcement was made this morning.
Lynas booked a full year net loss of $87.8 million in the 2012 financial year.
