Oct 27 (Reuters) - Australia's Lynas Rare Earths (LYC.AX) on Thursday reported a 34.7% jump in first-quarter revenue, helped by a surge in demand for specialised metals used in electric vehicle components.
Global demand for minerals used to power electric-vehicle motors has continued to surge amid a global push to reduce carbon emissions from fossil-fuel powered vehicles, benefiting miners such as Lynas.
Rare earths minerals are also used in a wide variety of goods such as iPhones and military equipment.
The world's largest producer of rare earths outside China said revenue rose to A$163.8 million ($106.34 million) in the three months to Sept. 30, compared with A$121.6 million a year ago and a Barrenjoey estimate of A$146 million.
Lynas raked in an average selling price of A$49.3 per kilogram (kg) for its product range in the reported quarter, compared with A$44.6 per kg last year.