Lynas posts 55% revenue jump on record prices, flags plant shutdowns

Australia’s Lynas Rare Earths posted a 55% jump in first-quarter revenue on Thursday, helped by record realised prices, while warning that planned shutdowns at its Malaysia and Kalgoorlie facilities would weigh on current-quarter production. Growing Western demand for non-Chinese critical minerals supply has boosted Lynas’ ability to lock in floor-price contracts above market benchmarks, strengthening pricing even as China remains the dominant player in the rare earths sector.