By Digifin Pty Ltd · About this coverage
Key Points
- Quarterly gross sales revenue of A$310.1m, 55% higher than Q1 FY26
- Record average selling price of A$102.1/kg across all rare earth products
- NdPr production of 2,082t within total REO production of 4,254t
- Closing cash and short-term deposits of A$1,212m
- Approximately one-month maintenance shutdown to lower December quarter production
About Lynas (ASX:LYC)
Lynas Rare Earths Ltd is an ASX-listed rare earths producer headquartered in Perth. It mines and concentrates rare earth ore at Mount Weld in Western Australia, processes concentrate to mixed rare earth carbonate at its Kalgoorlie facility, and separates individual rare earth products, principally the neodymium-praseodymium used in permanent magnets, at its plant in Malaysia. It is one of the few significant producers of separated rare earths outside China.
Lynas (ASX:LYC)' September quarter report shows record NdPr production after the company overcame ore concentrate quality challenges from the June 2026 quarter, along with its highest quarterly sales revenue since Q4 FY22.
Quarterly gross sales revenue was A$310.1m, 55% higher than Q1 FY26, at a record average selling price of A$102.1/kg across all rare earth products, up 88% on Q1 FY26. Lynas attributes the price to improved market pricing, bundling of light and heavy rare earths for magnet customers and a higher premium over the market index, including floor price agreements which now cover over 50% of its production. Total REO production was 4,254t, including 2,082t of NdPr, and 23 tonnes of Dy and Tb were produced. Sales receipts were A$266.6m and closing cash and short-term deposits were A$1,212m. On 1 October 2026, after the quarter, Lynas entered a binding Scheme Implementation Deed under which it is proposed that Lynas will acquire 100% of the shares in Meteoric Resources at 0.0207 new Lynas shares for each Meteoric share. Construction of the expanded Heavy Rare Earths facility at Lynas Malaysia is progressing.
The Meteoric scheme is subject to conditions including regulatory approvals, Meteoric shareholder approval and Court approval. Planned maintenance at Lynas Malaysia, a shutdown of approximately one month, will lower December quarter production compared with Q1 FY27, by an amount the release does not state.
Source: Lynas Rare Earths Ltd (ASX:LYC), 29 October 2026. Summary content supplied by Digifin Pty Ltd.
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