Highlights

  • Malaysian NdPr production reached a quarterly record of 2,082 tonnes.
  • Total rare earth oxide production increased to 4,254 tonnes.
  • Gross sales revenue for the September 2026 quarter was A$310.1m.
  • Closing cash and short-term deposits totalled A$1,212.5m.
  • Planned plant shutdowns may affect December-quarter production.

Lynas Rare Earths Limited (ASX:LYC) mines rare earth materials at Mt Weld in Western Australia and processes them through operations including its Malaysian separation plant. During the September 2026 quarter, the company reported record neodymium-praseodymium production in Malaysia, higher total rare earth oxide output and gross sales revenue of A$310.1m, alongside changes to its industrial partnerships and processing schedule.

Malaysian Processing and Mt Weld Output

Lynas Rare Earths (ASX:LYC) reported 2,082 tonnes of neodymium-praseodymium (NdPr) production in the September 2026 quarter, up from 1,857 tonnes in June. Total rare earth oxide (REO) output was 4,254 tonnes versus 3,481 tonnes in the preceding quarter. Dysprosium and terbium output rose to 23 tonnes from 19 tonnes.

The company said output recovered following concentrate quality difficulties that continued into July. At Mt Weld, Lynas also reported a record level of NdPr in concentrate. The Mt Weld expansion was operational apart from an IsaMill installation, expected to commence during the second quarter of FY27. ASX:LYC continues working towards Malaysian nameplate capacity of 900 tonnes of finished NdPr per month, which is not yet the reported quarterly operating rate.

Sales Revenue and Liquidity

For the September 2026 quarter, ASX:LYC reported gross sales revenue of A$310.1m and REO sales volume of 3,039 tonnes, versus 2,941 tonnes in June. Its average selling price was A$102.1/kg, compared with A$54.3/kg in the corresponding quarter a year earlier. The company attributed pricing to market conditions and its product arrangements.

Customer cash receipts were A$266.6m, compared with A$297.1m in the previous quarter. Closing cash and short-term deposits were A$1,212.5m against A$1,209.1m at the start of the quarter. Reported cash uses included A$185.2m for production, administration and royalties, and A$28.7m for capital expenditure, exploration and development.

Partnerships and Planned Interruptions

In July 2026, Lynas entered a long-term arrangement with JS Link concerning a proposed magnet factory in Kuantan, Malaysia, with planned capacity of 3,000 tonnes annually. A separate arrangement with LS Eco Energy involved convertible securities and continued discussions concerning heavy rare earth metals processing in Vietnam. These development arrangements remain distinct from current production.

Following the quarter, ASX:LYC announced a proposed share-based acquisition of Meteoric Resources, subject to shareholder, court and regulatory approvals. The company also indicated an approximately one-month Malaysian shutdown in the December 2026 quarter for electrical and kiln maintenance, plus approximately two weeks at Kalgoorlie during the second quarter of FY27 for a network upgrade.

Key Insights

Lynas Rare Earths (ASX:LYC) combined increased September-quarter processing output with higher reported sales revenue. Scheduled maintenance, concentrate quality and execution of proposed partnerships remain separate operational considerations. The financial and operating figures describe the September 2026 period, not a guaranteed level for subsequent quarters.