Lynas Rare Earths has reported an increase in sales revenue for the fiscal first quarter, driven by higher production and demand for neodymium and praseodymium (NdPr) products.
The company reported AU$200.2 million in gross sales revenue for the quarter ending September 30. The company achieved sales revenue growth of 18 per cent compared to the prior quarter and 66 per cent growth compare to the prior-year period.
The average selling price across all rare earths product was AU$54.3 per kilogram. Total rare earth oxide (REO) production for the company was 3,933 tonnes for the quarter.
Lynas CEO Amanda Lacaze said the September quarter was “significant” for the company as it announced its Towards 30 growth strategy and completed an equity raising.
The equity raising comprised of AU$750 million institutional placement and a share purchase plan for retail shareholders.
“This further strengthens our balance sheet, enabling Lynas to pursue a strong growth agenda,” Lacaze said.
The company also signed its first customer contracts for separated heavy rare earth oxides, like dysprosium (Dy) and terbium (Tb) oxides, and products were shipped to customers, with pricing reflecting the value of these materials.
Lynas also commissioned a new plant in Mt Weld, alongside a solar farm component of the hybrid power plant operations.
Construction and commissioning of the hybrid power station is nearing completion, with the solar farm fully operational in September.
Two of the four wind turbines were commissioned, with the remaining two wind turbines forecast to be commissioned in the December 2025 quarter.
Lynas will construct an expanded heavy rare earth (HRE) separation circuit in Malaysia. The project will commence in the December quarter, with first production of samarium targeted in the first half of 2026.
Furthermore, the company signed a memorandum of understanding with Korean permanent magnet manufacturer JS Link to develop a sustainable rare earth permanent magnet value chain in Malaysia.
Lynas also signed another memorandum of understanding with Noveon Magnetics, the only operational U.S. manufacturer of sintered rare earth magnets. The partnership will seek to establish a scalable U.S. supply chain for rare earth permanent magnets.
