⁍ Australian rare earth producer Lynas Corp on Wednesday posted a 8.1% rise in first-quarter neodymium and praseodymium (NdPr) output.

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⁍ Production normalized following the easing of coronavirus restrictions in Malaysia and Western Australia.

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⁍ Lynas said a NdPr production rate of 75% is enough to meet demand as the coronavirus crisis continues to weigh on demand.

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– China may be the world’s biggest producer of rare earths, but it’s not the only one. Australia’s Lynas Corp. is also one of the world’s biggest producers of the minerals used in everything from iPhones to electric cars, and it announced today that production of neodymium and praseodymium, used in weapons and magnets, rose 8.1% in the quarter ending in September from a year earlier, Reuters reports. Lynas said a 75% NdPr production rate is enough to meet demand as the coronavirus crisis continues to weigh on demand. Rare earths are critical minerals used in a wide range of everyday goods, including magnets and electric cars, and has become a key strategic consideration for Washington as it looks to reduce US reliance on China, the world’s biggest producer. China recently passed a law restricting exports of controlled items, giving Beijing the power to curb exports of items to countries that it believes may harm China’s interest. Lynas said a NdPr production rate of 75% is enough to meet demand as the coronavirus crisis continues to weigh on demand.