Lynas Rare Earths has reported a 70 per cent year-on-year jump in the fourth-quarter sales revenue to AU$288.9 million, marking its strongest quarterly revenue performance since mid-2022.
The result was driven by improved neodymium-praseodymium (NdPr) pricing, an increased share of heavy rare earth sales, and higher market index premiums, pushing the company’s average selling price across all products to a record AU$98.20 per kilogram.
Sales receipts for the period rose to AU$297.1 million, lifting closing cash and short-term deposits to AU$1.21 billion.
Total rare earth oxide (REO) production reached 3,481 tonnes for the quarter, including 1,857 tonnes of NdPr and 19 tonnes of dysprosium and terbium.
Operational teams managed initial teething issues at the new Mt Weld water recycling plant and handled concentrate quality variations that temporarily impacted cracking and leaching productivity in Kalgoorlie and Malaysia.
Interim CEO Pol Le Roux highlighted the ongoing focus on optimising the company’s AU$1.5 billion investment in new capacity, following the completion of the Lynas 2025 growth initiative.
Progress also continued across downstream processing projects. Following the first production of samarium oxide in March 2026, customer qualification is underway, with initial commercial orders expected to be fulfilled in the current quarter.
Meanwhile, Lynas announced a partnership with JS Link to invest approximately AU$50 million in a new rare earth permanent magnet plant in Malaysia, securing an exclusive supply agreement through 2038.
However, Lynas revealed the estimated capital cost for its expanded heavy rare earths facility in Malaysia has ballooned from AU$180 million to AU$294 million.
The cost escalation stems from extra equipment needed to satisfy customer purity requirements, sourcing machinery outside China, and broader geopolitical cost pressures.
Despite these cost headwinds, the company maintained strong safety standards, recording a 12-month rolling Lost Time Injury Rate of 0.9 per million hours worked.
