ASX
237 days, 6 hours ago 
LYC
Lynas Rare Earths Limited
2024 AGM Voting Results
Lynas Rare Earths Ltd's 2024 Annual General Meeting saw all resolutions pass with overwhelming shareholder support, with the remuneration report, director re-election, and CEO performance rights grant receiving over 98% approval.
ASX
237 days, 13 hours ago 
LYC
Lynas Rare Earths Limited
CEO's AGM Presentation
Lynas Rare Earths Limited's 2024 Annual General Meeting revealed significant operational highlights, including the completion of the Mt Weld expansion project and the commencement of production at the new Kalgoorlie facility, alongside strong financial results and overwhelmingly positive shareholder votes on key resolutions.
Better than expected
 
Delay expected
 
ASX
237 days, 13 hours ago 
LYC
Lynas Rare Earths Limited
Chair's Address to AGM
Lynas Rare Earths reported a positive financial performance in FY24, achieving $84.5 million in net profit after tax despite challenging market conditions, driven by cost control and growth initiatives.
ASX
256 days, 4 hours ago 
LYC
Lynas Rare Earths Limited
KALGOORLIE RARE EARTHS PROCESSING FACILITY OFFICIALLY OPENS
Lynas Rare Earths officially opened its $800 million Kalgoorlie Rare Earths Processing Facility, a key part of its 2025 growth plan, marking a significant milestone in Australian rare earth processing.
ASX
265 days, 14 hours ago 
LYC
Lynas Rare Earths Limited
Quarterly Activities Report
Lynas Rare Earths reported A$120.5 million in sales revenue for Q1 FY25, with production managed to align with market demand, while progress on growth projects to reach 10.5kt NdPr capacity in FY25 remains on track.
Worse than expected
 
Delay expected
 
ASX
284 days, 14 hours ago 
LYC
Lynas Rare Earths Limited
Notice of Annual General Meeting/Proxy Form
Lynas Rare Earths Limited will hold its 2024 Annual General Meeting on November 27, 2024, to consider the FY24 annual financial report, remuneration report, director re-election, and performance rights grant for the CEO.
ASX
284 days, 14 hours ago 
LYC
Lynas Rare Earths Limited
ESG Report FY2024
Lynas Rare Earths released its 2024 ESG report, highlighting a $463.3 million revenue, $84.5 million net profit, and significant investments in renewable energy and sustainable practices.
Worse than expected
 
ASX
284 days, 14 hours ago 
LYC
Lynas Rare Earths Limited
Annual Report FY2024
Lynas Rare Earths Limited reported a net profit after tax of $84.5 million for FY24, despite challenging market conditions, driven by cost reductions and key growth initiatives.
Worse than expected
 
Delay expected
 
ASX
285 days, 5 hours ago 
LYC
Lynas Rare Earths Limited
Date for Quarterly Report and Briefing
Lynas Rare Earths will release its quarterly results for the period ending September 30, 2024, on October 30, 2024, followed by an analyst and shareholder briefing.
ASX
351 days, 12 hours ago 
LYC
Lynas Rare Earths Limited
Diggers & Dealers Presentation 2024
Lynas Rare Earths announces significant progress in FY24, including increased mineral resources and ore reserves, expansion projects, and plans for new product lines.
Better than expected
 
LYC 
Lynas Rare Earths Limited 
ASX

Diggers & Dealers Presentation 2024

Sentiment:
 Company Presentation
 4 August 2024 8:02 PM

Lynas Rare Earths announces significant progress in FY24, including increased mineral resources and ore reserves, expansion projects, and plans for new product lines.

Better than expected
  The company announced a 92% increase in Mineral Resources and a 63% increase in Mt Weld Ore Reserves. 

Summary
  • Lynas Rare Earths has made significant progress in FY24, including the first shipment of MREC from the new Kalgoorlie Facility.
  • The company announced plans to produce separated Dy and Tb at Lynas Malaysia in CY25.
  • Construction of Mt Weld expansion project Stage 1 is complete and commissioning has commenced.
  • A 5-year mining contract with Carey Group at Mt Weld has commenced.
  • The Mt Weld exploration & resource definition drilling program has been completed.
  • The company has seen a 92% increase in contained Dy oxide from June 2018 and all heavy rare earths are now reported.
  • There has been a 63% increase in ore reserves from June 2018.
  • The ore reserve mine life is >35 years for production capacity of 7,200 tpa NdPr oxide.
  • There has been a 46% increase in TREO from August 2018.
  • The ore reserve mine life is >20 years for expanded production capacity of 12,000tpa NdPr oxide.
  • The Mineral Resources estimate is of 106.6 Mt at an average grade of 2.97% TREO.
  • Ore Reserves are now 32.0 Mt at 6.44% TREO.
  • Lynas is investing over $1.5 billion in expansion capital, including over $1.3 billion in the WA Goldfields region.
Sentiment

Score: 8

Explanation: The document presents a positive outlook with significant increases in resources and reserves, ongoing expansion projects, and plans for new product lines. The company is clearly positioning itself for future growth.

Positives
  • The first shipment of MREC from the new Kalgoorlie Facility has been completed.
  • Plans are in place to produce separated Dy and Tb at Lynas Malaysia in CY25.
  • Construction of Mt Weld expansion project Stage 1 is complete and commissioning has commenced.
  • A 5-year mining contract with Carey Group at Mt Weld has commenced.
  • The Mt Weld exploration & resource definition drilling program has been completed.
  • There has been a 92% increase in contained Dy oxide from June 2018.
  • Ore reserves have increased by 63% since June 2018.
  • The company is targeting first production of Dy & Tb in CY2025.
  • Lynas Malaysia was named as Best License Holder for Control Category 4 2021-2023, by the Malaysian Department of Atomic Energy (AELB).
Risks
  • The ramp-up of the Kalgoorlie Rare Earths Processing Facility is aligned to increased Mt Weld production and market demand, which could be affected by unforeseen circumstances.
  • Achieving the target of first production of Dy & Tb in CY2025 is subject to project execution and market conditions.
Future Outlook

Lynas is set for growth with expanded capacity, new products, and an unrelenting focus on efficiencies, supported by a significant increase in mineral resources and ore reserves.

Industry Context

This announcement reflects the increasing demand for rare earth elements, particularly Dy and Tb, driven by the growth in electric vehicles and renewable energy technologies. Lynas is positioning itself to capitalize on this demand through strategic expansions and new product lines.

Comparison to Industry Standards
  • Lynas's expansion plans and resource upgrades are in line with industry trends to secure rare earth supply chains outside of China.
  • The company's focus on heavy rare earth separation, particularly Dy and Tb, addresses a critical need in the market, as these elements are essential for high-performance magnets.
  • Comparable companies like MP Materials and Iluka Resources are also investing in rare earth processing and separation capabilities.
Stakeholder Impact
  • Shareholders will benefit from the increased resource base and production capacity, potentially leading to higher revenues and profits.
  • Employees will have opportunities for growth and development as the company expands its operations.
  • Customers will have access to a more secure and diversified supply of rare earth elements.
  • Local communities in Malaysia and Australia will benefit from Lynas's community engagement and environmental initiatives.
Next Steps
  • Continue ramp up at Kalgoorlie Rare Earths Processing Facility.
  • Progress towards first production of Dy & Tb in CY2025 at Lynas Malaysia.
  • Continue Mt Weld expansion project.
  • Continue exploration and resource definition drilling program at Mt Weld.
Key Dates
  • June 2018: Reference point for increases in contained Dy oxide and ore reserves.
  • August 2018: Reference point for increase in TREO.
  • June Quarter 2024: First shipment of MREC being dispatched from the Kalgoorlie Rare Earths Processing Facility.
  • August 5, 2024: Date of the ASX announcement regarding the 2024 Mineral Resource and Ore Reserve update.
  • CY25: Target for first production of separated Dy and Tb at Lynas Malaysia.
  • CY26: Expected operation of new power station at Mt Weld.
Keywords
Rare Earths, Lynas, Mt Weld, Kalgoorlie, Dysprosium, Terbium, MREC, Ore Reserves, Mineral Resources, Expansion
LYC 
Lynas Rare Earths Limited 
ASX
Sector: Materials
 
Filings with Classifications
Better than expected
17 June 2025 6:36 PM
Production Update
  • The successful first production of Terbium Oxide represents a significant expansion of Lynas' product capabilities and a positive operational milestone.
Worse than expected
26 February 2025 11:03 PM
Results Presentation
  • The company reports a profit in a challenging market, implying that the results were worse than expected.
Better than expected
25 February 2025 4:04 PM
Results Presentation
  • NdPr production increased by 23% compared to 1H FY24.
  • Sales revenue increased by 8% compared to 1H FY24.
Worse than expected
25 February 2025 4:04 PM
Interim Financial Report
  • The results were worse than expected due to a significant decrease in net profit, driven by lower rare earth prices and increased production costs.
Worse than expected
25 February 2025 4:04 PM
Half Year Report
  • The net profit after tax decreased significantly from $39.5 million to $5.9 million, indicating a worse financial performance compared to the previous year.
Worse than expected
16 January 2025 4:43 PM
Quarterly Report
  • Production volumes were lower than planned due to issues with impurities in the MREC feedstock and the annual processing limit in Malaysia.
Delay expected
16 January 2025 4:43 PM
Quarterly Report
  • The chemical inputs required for the treatment of MREC impurities were not available until December 25th, causing a delay in production.
Better than expected
26 November 2024 5:25 PM
Annual General Meeting Presentation
  • The significant increase in Mt Weld Mineral Resources and Ore Reserves, coupled with the successful completion of major projects and cost reductions, indicate results better than might have been expected.
Delay expected
26 November 2024 5:25 PM
Annual General Meeting Presentation
  • Site works at the US facility are on hold due to a wastewater permitting issue.
Worse than expected
29 October 2024 5:24 PM
Quarterly Report
  • Rare earth prices remained low throughout most of Q1 FY25, resulting in lower than expected sales revenue compared to previous quarters.
Delay expected
29 October 2024 5:24 PM
Quarterly Report
  • A permitting issue related to wastewater management has put a hold on earthworks for the U.S. Rare Earths Processing Facility.
Worse than expected
10 October 2024 5:27 PM
ESG Report
  • The net profit after tax was significantly lower than the previous year, indicating worse than expected financial performance.
Worse than expected
10 October 2024 5:26 PM
Annual Report
  • The net profit after tax decreased significantly from $310.7 million in FY23 to $84.5 million in FY24, primarily due to lower rare earth prices and reduced production volumes.
Delay expected
10 October 2024 5:26 PM
Annual Report
  • Earthworks for the planned U.S. Rare Earths Processing Facility have been delayed until a permitting issue related to wastewater management is resolved, which is unlikely to happen before the end of 2024.
Better than expected
4 August 2024 8:02 PM
Company Presentation
  • The company announced a 92% increase in Mineral Resources and a 63% increase in Mt Weld Ore Reserves.
Better than expected
4 August 2024 6:18 PM
Resource and Reserve Update
  • The Mineral Resources and Ore Reserves have increased significantly compared to the 2018 estimates.
  • The contained Dysprosium oxide in Ore Reserves has increased substantially.
  • The updated Ore Reserve supports a longer mine life at expanded production rates.
Worse than expected
22 July 2024 6:11 PM
Quarterly Report
  • The company's REO and NdPr production were lower than the previous quarter.
Delay expected
22 July 2024 6:11 PM
Quarterly Report
  • Completion of Stage 2 of the Mt Weld Expansion Project is now expected by the end of FY25.
  • Delays in receiving concentrate due to disturbances to the global shipping industry and kiln maintenance shutdowns impacted downstream production.
Delay expected
11 July 2024 6:25 PM
Missing type for ID: 3288
  • ASX:LYC announces a delay.
Worse than expected
19 June 2024 7:32 PM
Investor Presentation
  • Pricing at surprisingly low levels following strong production growth inside China.
Delay expected
19 June 2024 7:32 PM
Investor Presentation
  • Many new rare earth projects have stalled.
Delay expected
23 April 2024 6:19 PM
Quarterly Report
  • The commissioning timeline for the Kalgoorlie facility has been extended, leading to a budget increase.
Worse than expected
23 April 2024 6:19 PM
Quarterly Report
  • The Q3 FY24 revenue was significantly lower than the previous year due to lower NdPr prices and the decision to hold inventory.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.