Lynas revenue rises 55 per cent as Malaysia plant shutdown looms
Scheduled maintenance will halt Malaysian processing for a month in the December quarter, while Kalgoorlie faces a two-week stoppage.
Lynas Rare Earths reported first-quarter gross sales revenue of A$310.1 million, up 55 per cent, as record selling prices outweighed lower sales volumes. The Australian miner said planned stoppages at its Malaysian and Kalgoorlie processing plants would affect production in the following quarter.
Maintenance will require the Malaysian facility to close for a month during the December quarter. Lynas expects production volumes to fall from the September quarter. At Kalgoorlie, electricity network upgrades will require a two-week closure in the second quarter of fiscal 2027.
For the quarter ending Sept 30, the company’s average selling price reached A$102.1 per kg, an 88 per cent increase. Agreements setting minimum prices cover over half its production, helping offset a 17.7 per cent drop in rare earth oxide sales volumes.
Revenue compared with A$200.2 million a year earlier, but fell 18.2 per cent short of the Visible Alpha estimate. Lynas shares gained 4.2 per cent, closing at their highest level since Oct 7.
Rare earth oxide output increased 6.5 per cent to 4,254 tonnes in the September quarter, while production of magnet material NdPr was broadly unchanged. Lynas is still seeking a permanent chief executive following Amanda Lacaze’s departure in June.
