Lynas posts record revenue on robust demand, shares hit 8-year high

Australia's Lynas Rare Earths Ltd posted record quarterly revenue on Monday on the back of "very strong" demand for its range of specialised metals that offset softer prices, sending its shares to a more than eight-year high.

Lynas, the largest rare earths producer outside China, reported a jump in fourth-quarter revenue to A$185.9 million (US$137 million), more than triple A$38 million a year earlier, pushing the stock up 9% to A$7.01, its highest since January 2013.