Higher rare earth prices and increased sales volumes drove significantly stronger results for the Australian mining company in the fiscal year.
Lynas released its financial results (PDF) on Wednesday for the fiscal year ended June 2026. The leading rare earths producer outside China reported a net profit of around $160 million, up from just under US$6 million the previous year. Revenue also rose sharply to a record $702 million. In fiscal 2025, revenue stood at approximately US$400 million. Despite the record revenue, net profit fell short of expectations: according to Bloomberg, analysts expected an average of around $189 million.
According to Lynas, the second-half development was driven mainly by higher rare earth prices. The company also benefited, among other factors, from a higher proportion of heavy rare earths in its product mix.
These are also the first full-year results presented by Pol Le Roux as interim CEO. The former Chief Operating Officer took over the leadership of the company at the beginning of July from Amanda Lacaze, who stepped down after 12 years at the helm of Lynas. Lacaze, however, remains active in Australia’s resources sector: she has served as Chair of the Minerals Council of Australia (MCA) since the end of May and, since August 17, has also been an independent director on the board of the German-Australian lithium company Vulcan Energy Resources.
Photo: Olga Kostrova via Canva
