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

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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.Demand for rare earth materials such as neodymium and praseodymium (NdPr) has rebounded from a pandemic-driven drop last year as electric vehicles continue to gain popularity amid a global push to reduce carbon emissions.NdPr is also used in magnets for windfarms, gadgets like smartphones, and military equipment, and Lynas and other western producers stand to benefit from efforts by the United States …