Record revenue but below analysts’ expectations.
Australian rare earth giant Lynas has reported record quarterly results for the three months ended 30 September 2025 (PDF). The company delivered gross sales revenue of $130 million (A$200 million), up 18 per cent from the previous quarter, with total rare earth oxide (REO) production rising to 3,993 tons, including 2,003 tons of neodymium-praseodymium (NdPr). However, despite posting record results, the figures fell short of analysts’ expectations, according to Reuters.
In the quarter, Lynas also achieved its first commercial shipments of heavy rare earth oxides, including dysprosium and terbium. In addition, production and commissioning activities advanced at the company’s Mt Weld and Malaysia operations, alongside the commissioning of renewable energy facilities at its hybrid power station. On Wednesday, Lynas also announced plans to expand the heavy rare earth separation activities at its Malaysian facilities (we reported).
In another development for supply chain diversification, Japan’s Sojitz Corporation announced (PDF) that it has begun importing heavy rare earths produced by Lynas, marking the first import of Australian-sourced rare earths refined in Malaysia. Sojitz, through its joint venture Japan Australia Rare Earths (JARE) with JOGMEC, has been a long-term investor and distributor for Lynas in Japan. The move strengthens Japan’s access to critical minerals amid subdued imports from China in recent months.
Photo: iStock/temizyurek
