In the wake of troubles seen by Molycorp (OTCMKTS: MCPIQ ) in the US, rare earths investors are no doubt keeping track of the latest Lynas news, or updates from Australia's Lynas Corporation ( ASX : LYC ). In the latest Lynas news, the company reported that things are not actually going so bad. It's managed to cut its annual losses with cost reductions and higher sales. However, Lynas's stock is still down 48 percent year-to-date, and not everyone believes that Lynas is out of the woods yet. A quick summary of Lynas news in recent years The share prices of Molycorp and Lynas were doing quite well a few years ago, when rare earths prices skyrocketed as China cut exports in 2010. At the time, China produced over 95 percent of the world's rare earths supply, so a supply cut created a big problem for end users outside of the country.