For now, the news flow remains relatively subdued, but rare earth heavyweight Lynas has reported its latest results. – You can find the details and the latest developments from Brazil’s rare earths industry in our roundup for calendar week 35.
US Defense Department Moves to Secure Access to Brazilian Rare Earths
The United States is stepping up efforts to secure access to rare earths produced by Serra Verde in Brazil. The Department of War will provide $750 million to a special-purpose vehicle that is set to purchase output from the Pela Ema mine under a long-term offtake arrangement. The original commitment had been $500 million. Together with a bank credit facility of up to $500 million and a Defense Logistics Agency purchase commitment of at least $300 million, the overall structure totals $1.55 billion.
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Brazil: Bridging the Gap Between Mine and Magnet
Australian mining company St George Mining is considering building a rare earths processing facility in the Brazilian state of Minas Gerais. Together with Brazilian chemical and industrial company Lima & Pergher and the Minas Gerais authorities, the company plans to establish a processing center in Uberlândia. The facility would process rare earth concentrates, mixed carbonates and oxalates into feedstocks for magnet production.
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Lynas Reports Record Revenue and Significant Increase in Profit
Lynas on Wednesday released its financial results for the fiscal year ended June 2026. The largest rare earths producer outside China reported a net profit of around $160 million, compared with just under $6 million in the previous year. Revenue also increased significantly, reaching a new record of around $702 million, up from approximately $400 million in fiscal 2025. According to Lynas, the strong performance was driven primarily by higher rare earth prices.
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