Lynas Rare Earths Ltd (ASX:LYC) Announces Q3 FY25 Quarterly Report
Financial Performance
Lynas Rare Earths Ltd reported sales revenue of A$123.0m and sales receipts of A$124.6m for Q3 FY25. The company’s closing cash and short-term deposits decreased to A$268.9m. Total rare earth oxide production stood at 1,911 tonnes, with NdPr production at 1,509 tonnes. Cash payments for CAPEX, exploration, and development amounted to A$71.3m.
Operational Developments
Lynas commenced commissioning of the new Heavy Rare Earth separation circuit, producing a small quantity of Holmium concentrate and beginning Dysprosium separation. The first production of Dysprosium is expected in May, followed by Terbium in June. The Mt Weld Expansion project remains on track, with Stage 2 expected to be completed by Q1 FY26. Maintenance and process modifications at Lynas Malaysia and the Kalgoorlie Facility continue to support the 2025 target production of 10.5kt annually.
Marketing and Sales
The average selling price across Lynas’ rare earth products improved to A$50.5/kg, the highest since December 2022, driven by a focus on strategic customers and favourable foreign exchange rates. Market conditions remain challenging due to global tariffs and China export controls. Lynas continues to build its strategic customer base, pursuing direct end customer agreements and ensuring supply chain reliability for critical applications.
Safety and Environment
Lynas maintained a company-wide 12-month rolling Lost Time Injury Rate of 1.6 per million hours worked and a Total Recordable Injury Rate of 3.8 per million hours as of March 2025. The company adheres to national and international safety and sustainability best practices.
Growth Projects
At Lynas Malaysia, a new calcination system was implemented, and the Heavy Rare Earths circuit positions Lynas as the sole producer of Dysprosium and Terbium outside China. The Mt Weld Expansion project progresses within budget, with the process plant construction forecast to complete by end of FY25. In the United States, Lynas is addressing wastewater management challenges at the Seadrift site and evaluating cost implications due to recent global tariffs.
Finance
For the quarter ended 31 March 2025, Lynas reported closing cash and short-term deposits of A$268.9m. Cash inflows were primarily from customer receipts totaling A$124.6m, while outflows included production costs and CAPEX payments. The company transitioned Lynas Kalgoorlie costs to the Operating account in February 2025.
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