Sales for the quarter ending 30 September zoomed to $138.1m from $8.5m, as the company boosted production in response to soaring global prices. China, which mines about 95% of rare earths, has imposed export controls, sending buyers in industries such automotive, electronics and wind power equipment scrambling to find alternative sources.
The company is pouring hundreds of millions of dollars to modernize and expand its flagship rare earth facility at Mountain Pass, California.
