Higher production volume and improved sales prices.
Australian rare earths producer Lynas Rare Earths has reported a 25% year-on-year increase in quarterly revenue for the period ending June, driven by higher production volumes and improved selling prices. According to the statement (PDF), the company generated $112.62 million (AUD 170.2 million) in sales revenue, up from $90.39 million (AUD 136.6 million) in the same quarter last year.
Lynas also reached a significant production milestone during the quarter, reaching an output of 2,080 tons of neodymium-praseodymium (NdPr), the first time it has surpassed 2,000 tons in a single quarter. This quarter marked the first commercial production of the heavy rare earths dysprosium and terbium, making Lynas the first company outside China to do so (we reported).
In a separate announcement (PDF), the company revealed it had signed a memorandum of understanding (MOU) with Korean permanent magnet manufacturer JS Link to build a magnet plant in Malaysia. The planned facility is expected to have an annual production capacity of 3,000 tons.
Lynas also noted that discussions are ongoing with the U.S. government regarding potential financing for its magnet plant currently under construction in Texas. The move aligns with broader efforts in the U.S. to secure critical mineral supply chains. Earlier this month, U.S.-based MP Materials, the country’s largest rare earth producer, received significant backing from the U.S. Department of Defense, including a price floor for NdPr (we reported).
Photo: agnormark via Canva
