Lynas Reports 8% Increase in Rare Earth Production, Despite Pr-Nd Decline; Sales Revenue Up 70% YoY

Published: Jul 23, 2026 15:56

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[SMM Rare Earth Flash] Australian rare earth producer Lynas reported its April-June 2026 quarterly results, showing that its total rare earth oxide (TREO) production increased by 8% YoY, driven by capacity improvements at the Mount Weld mine in Western Australia, the Kalgoorlie processing plant, and the Kuantan refinery in Malaysia. However, affected by issues with the Mount Weld water circulation system and concentrate quality, Pr-Nd production for permanent magnets fell 11% YoY. These issues have since been resolved, and the company expects to return to full-capacity operations this quarter. In the same period, heavy rare earths dysprosium and terbium achieved production of 19 mt, marking their first commercial production. Driven by higher Pr-Nd prices, increased heavy rare earth sales, and product premiums, the average selling price of rare earth oxides rose 63% YoY to A$98.2/kg, pushing sales revenue up 70% YoY. In addition, Lynas has initiated client certification for samarium oxide and raised the investment budget for its heavy rare earth project in Malaysia. It plans to bring products including gadolinium, yttrium, and lutetium into production from 2027 to 2028.

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