Good Management Essay

54958 Words Apr 24th, 2014 220 Pages
THE PATH FROM HERE
2013 AnnuAl RepoRt

Contents
8 Chairman’s letter 12 Ceo’s Review 20 Global Market Activity 22 Directors’ Report 31 Corporate Governance Statement 41 Remuneration Report 56 Independent Auditor’s Report 58 Auditor’s Independence Declaration 59 Financial Report 110 ASX Additional Information 112 Corporate Information

Lynas has continued to achieve significant milestones during FY2013. With our vision to become the leader in Rare Earths for a sustainable future in sight, we remain committed to our core values: Safe for people Safe for the environment Secure for cuStomerS

lYnAS CoRpoRAtIon lIMIteD ANNUAL REPORT 2013

1

SAFE FOR PEOPLE

Focussed on the Safety and health of our employeeS, buSineSS partnerS
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Rare earths are essential ingredients enabling the advanced technologies that provide applications delivering a greener and more energy-efficient world. Lynas’ mission is to provide a secure and sustainable rare earths supply chain to its customers operating in or supplying the oil refining, automotive, consumer electronics, lighting and power generation industries around the world.

Fccs mAGnEts AutOcAts

La
Lanthanum

Ce
Cerium

Pr
Praseodymium

Nd Sm
Neodymium Samarium

Eu
Europium

Gd
Gadolinium

Tb
Terbium

Dy
Dysprosium

Ho
Holmium

Er
Erbium

Tm
Thulium

Yb
Ytterbium

Lu
Lutetium

Y
Yttrium

6

lYnAS CoRpoRAtIon lIMIteD ANNUAL REPORT 2013

7

chairman’S letter

dear ShareholderS, As Chairman of Lynas Corporation, and on behalf of my fellow Directors, I am pleased to be able to present our Annual Report for 2013. This has been the most important year in our history in moving Lynas toward achieving its vision of becoming the leading global supplier of rare earths for a sustainable future. The Lynas Advanced Materials Plant (LAMP) in Malaysia is now complete and undergoing ramp up to targeted production capacity. Conditions in the global rare earths markets have been difficult and we have experienced a number of important operational challenges. But despite this, the production of our first products for customers in February 2013 represented an auspicious moment in the Company’s

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