Lynas Rare Earths quarterly revenue lifts to $200m
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The news: Lynas Rare Earths’ gross sales revenue hit $200 million in the September quarter, a 17.6% gain on the previous quarter, as higher sales volumes offset an easing in average selling price.
The numbers: Q1 FY26 gross sales revenue came in at $200.2 million, a lift on the $170.2 million of revenue generated in Q4 FY25. Sales receipts meanwhile lifted by 10.9% from $152.7 million to $171.3 million.
Average selling price fell from $60.2 per kilogram to $54.3 per kilogram.
Total rare earth oxide production hit 3,993 tonnes, 19.6% higher than the 3,212 tonnes produced in the preceding quarter.
Payments on capital investment, exploration and development fell to $65.7 million from $88.1 million in the preceding quarter.
The context: Rare earths have been a key sticking point in the trade war between China and the US, with China announcing plans for strict export controls in October although its introduction is expected to be delayed by a year.
Lynas Rare Earths completed a $750 million institutional placement and an $182 million share purchase plan in late August. The funding will support their recently announced Towards 2030 strategy, which includes plans to expand into magnet manufacturing.
During the period, Lynas signed a memorandum of understanding (MoU) with Korean permanent magnet manufacturer JS Link to develop a value chain in Malaysia. After the end of the quarter, Lynas also signed a MoU with US manufacturer of sintered rare earths magnets Noveon magnetics to build a US supply chain.
The source: ASX
