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Australia's Lynas posts 50% jump in annual profit

Aug 29 (Reuters) - Australian rare earths miner Lynas Corp posted a 50% jump in annual profit on Thursday amid record production of major rare earth elements.

The largest rare earths producer in the world outside China, said profit after tax was A$80 million ($54.03 million) for the year ended June 30, up from A$53.1 million a year ago.

($1 = 1.4806 Australian dollars) (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Sandra Maler)