Lynas Rare Earths, Achieving Strong Production and Sales Outcomes

LYC is steadily growing with stronger production and rising demand across global markets. It continues building future capacity while improving sales performance and long term stability.

Lynas Rare Earths Limited (ASX: LYC)

Lynas Rare Earths Limited (ASX: LYC) on 21 April 2026 shared its quarterly report for the period ended 31 March 2026. The quarter continued active as new facilities continued to rise up leading to solid output and sales. The production reached 1,996 tonnes of NdPr along with 8 tonnes of Dysprosium and Terbium. 

A key breakthrough was achieved in March 2026 with the first production of Samarium oxide earlier than the April target. This product is used in advanced magnets for electronics and aerospace along with optical, catalyst, and medical uses. Its introduction strengthens the company’s position as a supplier of both light and heavy rare earths. 

The Malaysia operating licence was renewed for 10 years starting 3 March 2026, replacing shorter earlier terms and giving stronger long term certainty. The licence also includes conditions for residue management and ongoing work on Thorium extraction and recycling.

Financial 

Revenue for the March quarter reached A$265 million, the highest level since Q4 FY22 and showing a 115% rise compared to Q3 FY25. This growth derived from higher NdPr prices and increased sales volumes across rare earth oxide products. The overall average selling price was A$84.60 per kilogram, similar to the previous quarter. NdPr prices alone rose by 25 percent during this period. The steady overall price reflected a shift in product mix with more sales of lower value materials. 

LYC improved pricing through bundling strategies that included higher value elements such as Dysprosium, Terbium and the newly added Samarium oxide. Demand remained strong as customers focused on securing supply chains outside China.
Key agreements and partnerships

On 10 March 2026, an updated 12 year agreement was signed with Japan Australia Rare Earths B.V. This includes firm offtake of 5,000 tonnes per year of NdPr with a floor price of US$110 per kilogram. Additional supply of up to 7,200 tonnes annually is available through 2038 under certain conditions. The deal also includes shared upside when prices exceed US$150 per kilogram with a yearly cap. 

Half of all heavy rare earth output is committed to Japanese industry, with potential supply up to 75 percent. On 13 March 2026, a non binding MoU was signed to support cooperation across exploration and resource development. 

A separate letter of intent with the U.S. Government in March outlines about US$96 million in purchases over four years, also with a US$110 per kilogram floor price.

Expansion projects 

During March 2026, a framework agreement was signed with LS Eco Energy to develop a rare earth metal facility in Vietnam. This project aims to support future demand and expand processing capacity outside China. It will allow supply of metallised NdPr and selected heavy rare earth products with Samarium metal as the first focus. 

Work also continued with JS Link on a magnet manufacturing facility in Malaysia. LYC monitored global supply chains closely mainly fuel and raw materials. The Mt Weld hybrid renewable power station played a key role achieving average renewable usage of 95.7% during the quarter and saving over 870,000 litres of diesel compared to the previous year.

(Source: Company Announcements)