Lynas Rare Earths Q3 sales revenue hits $265m
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The news: Lynas Rare Earths quarterly gross sales revenue reached $265 million in the third quarter of FY26, about 215% more than the previous corresponding period.
The numbers: Quarterly gross sales revenue for Q2 was $201.9 million. Meanwhile, sales receipts for the third quarter came in at $234 million, up from $185 million in the preceding quarter and $124.6 million in the previous corresponding period.
Total rare earth oxide production lifted by 851 tonnes to 3,233 tonnes.
Closing cash and short-term deposits lifted by $39.1 million to $1.07 billion from the second quarter to the third quarter.
Cash payments for capex, exploration and development fell to $32.6 million in the third quarter from $45.2 million in the second quarter.
The context: During the period, Lynas produced samarium oxide for the first time, a key input for the production of high-performance magnets and aerospace as well as optical, catalyst and medical applications.
Gross sales revenue was the highest level since Q4 FY22 amid a surge in the price of neodymium-praseodymium oxide (NdPr) as well as sales volumes of NdPr and other rare earth oxides. Lynas also signed a 12-year availability and supply agreement with JARE, which includes firm offtake of 5,000 tonnes per annum at a floor price of USD110 ($153.3) per kilogram of NdPr.
What they said: “The March quarter was another busy quarter. As the ramp up of the new facilities continued, strong production and sales outcomes were achieved. In addition, a number of company shaping initiatives were delivered which position our company for the future and contribute to greater business resilience,” outgoing CEO Amanda Lacaze said.
The source: ASX
