Lynas Rare Earths revenue lifts in December quarter despite production slip
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The news: Lynas Rare Earths gross sales revenue lifted slightly to $201.9 million in the December quarter, compared to the preceding quarter, despite total rare earth oxide production falling by 40%.
The numbers: Q2 gross sales revenue for FY26 was slightly higher than the $200.2 million generated in Q1 of FY26 but about 43% higher than the $141.2 million posted in Q2 of FY25.
Sales receipts hit $185 million in Q2 FY26, higher than the $171.3 million posted in Q1 FY26 and the $141.2 million in Q2 FY25. Average selling price hit $85 per kilogram in the quarter, up from $54.3 per kilogram in Q1 FY26 and up from $49.2 per kilogram in Q2 FY25.
However, production of rare earth oxides in Q2 FY26 fell to 2,383 tonnes. This is down from 3,993 tonnes from Q1 FY26 and from 2,617 tonnes from Q2 FY25.
Capital expenditure in the quarter fell to $45.2 million from $65.7 million in Q1 FY26 and $140.9 million in Q2 FY25.
The context: The fall in production was driven by a roughly 30% quarter-on-quarter decline in Neodymium-Praseodymium following previously announced power outages in Kalgoorlie.
The gains in average realised price reflected an increase in benchmark pricing and a proportional increase in sales independent of the market index.
The source: ASX
