Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Lynas achieves first commercial production of separated Heavy Rare Earths (Dy and Tb) outside China

  • Quarterly NdPr output exceeds 2,000 tonnes for the first time

  • Sales revenue rises 38% QoQ to AUD 170.2 million

Lynas Rare Earths Ltd (ASX:LYC) has delivered multiple operational and commercial milestones in the June 2025 quarter, including a significant breakthrough in the production of Heavy Rare Earths (HRE). The company also reported a 38% increase in quarterly sales revenue, contributing to a 2.37% rise in its share price, which closed at AUD 10.38 on 24 July 2025.

Milestone HRE Production Achieved in Malaysia

For the first time, Lynas successfully produced Dysprosium Oxide (Dy) and Terbium Oxide (Tb) at its Malaysia plant during May and June, marking the company’s first commercial production of separated Heavy Rare Earths. This also represents the first such production outside China in decades.

Lynas is currently the only commercial producer of separated Heavy Rare Earth oxides outside China. 

Record NdPr Output and Renewable Energy Integration

During the quarter, Lynas reported NdPr (Neodymium-Praseodymium) production of 2,080 tonnes, surpassing the 2,000-tonne milestone for the first time. The quarter also marked progress in Lynas’ transition to renewable energy, with the first wind turbine installed and solar farm completed at the Mt Weld site.

The company noted that the production figures reflect progressive commissioning of infrastructure developed under the Lynas 2025 capital project. 

Sales and Pricing Performance

Lynas reported sales revenue of AUD 170.2 million for the quarter, up 38% from the previous period. Sales receipts reached AUD 152.7 million, supported by an average selling price of AUD 60.2/kg—the highest since Q3 FY2023.

The company attributes the pricing uplift to its strategic customer engagement and a pricing model that includes agreements independent of market index fluctuations. Lynas continues to work with key customers to allocate newly produced HRE capacity, which carries strategic pricing due to its role in non-China supply chains.

Strategic Agreements and Project Progress

Lynas signed two new memoranda of understanding (MoUs) during the quarter:

  • With Kelantan Menteri Besar (MB) Inc, for collaboration on rare earth deposit development and future Mixed Rare Earth Carbonate (MREC) supply to Lynas Malaysia

  • With JS Link (Korea), to collaborate on developing a magnet manufacturing facility in Malaysia

At Mt Weld, mining and concentrate production continued to support operations in Kalgoorlie and Malaysia. Construction of the Mt Weld Expansion Project is nearing completion, with commissioning underway for key plant circuits including crushing, grinding, and flotation.