Lynas Corporation (ASX:LYC) is implementing a number of initiatives to streamline its operations as it focuses on ramping up rare earth oxide production at its Lynas Advanced Materials Plant in Malaysia.
This includes relocating its head office from Sydney to Kuala Lumpur in line with its plan to co-locate management personnel and resources with production and sales facilities.
Other initiatives to deliver costs savings include reducing workforce numbers by reducing contractor positions, improving asset utilisation, renegotiating supplier contracts and seeking improvements in procurement practices.
The company is now working on delivering the optimal balance of volume, finished product quality and rare earth oxides recovered through its processes at the plant.
LAMP had produced 1,089 tonnes of rare earth oxides in the March 2014 quarter.
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