The Lynas Rare Earths Ltd (ASX: LYC) share price is in focus after the company reported quarterly gross sales revenue of $201.9 million, up 43% on the prior corresponding period, and an average selling price of $85.60/kg, reflecting firmer market conditions.
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What did Lynas Rare Earths report?
- Gross sales revenue of $201.9 million for Q2 FY26, compared to $200.2 million in the prior quarter
- Sales receipts of $185.0 million, up from $171.3 million in Q1 FY26
- Closing cash and short term deposits of $1,030.9 million
- Total rare earth oxide (REO) production at 2,382 tonnes, with NdPr production at 1,404 tonnes
- Cash payments for capital expenditure, exploration, and development totalled $45.2 million
- Average selling price increased to $85.60/kg across all rare earth products
What else do investors need to know?
Lynas completed major kiln maintenance at its Malaysia facility in December, with operations safely restarting in January 2026. Power supply disruptions at the Kalgoorlie plant reduced production in the quarter, but electricity supply has now stabilised.
The company made good progress on its growth projects, with commissioning of the Mt Weld expansion project completed and its new flotation circuit ramping up. December saw 92% of Mt Weld's electricity needs met by renewable energy, exceeding targets.
Lynas also began work on expanding heavy rare earth (HRE) separation at its Malaysia operation. The first production of Samarium is forecast for Q4 FY26, and detailed engineering of the full facility is underway.
What did Lynas Rare Earths management say?
CEO and Managing Director Amanda Lacaze said:
As shareholders will be aware from the announcement released on 13 January 2026, I have advised the Board of my intention to retire from my position as CEO and Managing Director at the end of the current financial year. I have been privileged to lead this company for the past 12 years and believe this is the right time to make the transition. I remain fully committed to my role, to continuing to deliver value for shareholders, and working to ensure a smooth transition.
What's next for Lynas Rare Earths?
Looking ahead, Lynas aims to optimise production and recoveries at its Mt Weld facility and advance its heavy rare earth separation projects in Malaysia and the United States. The company continues to develop new supply chain partnerships, particularly outside China, as part of its 2030 growth strategy.
With CEO Amanda Lacaze retiring at the end of the financial year, the board has launched a search process for her successor. Lynas is focused on ensuring a smooth leadership transition and maintaining its position as a leading supplier of rare earths.
Lynas Rare Earths share price snapshot
Over the past 12 months, Lynas Rare Earths shares have risen 122%, significantly outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.
