SYDNEY May 30 AAP - Struggling rare earths miner Lynas has earned a reprieve with its lenders agreeing to postpone payments due in May and September until December.
The company said, in a statement on Monday, a $US2 million principal repayment due on June 30, as well as interest from January 2016 will be postponed to the end of December, without additional interest or penalty.
Lynas, which has struggled over the past three years as rare earths prices have tumbled, in April posted a 10 per cent slide in third-quarter sales, and activated a drawdown from its debt service accounts.
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