Insights › Rare-earth magnet supply chain atlas › Lynas Rare Earths
Australia
Lynas Rare Earths
Mine to separated oxide: bastnaesite-monazite ore from Mt Weld, cracking and leaching at Kalgoorlie, and solvent-extraction separation and finishing in Malaysia. The company describes itself as the only significant producer of separated rare earth materials outside China. It first separated dysprosium and terbium oxides in Malaysia in 2025 and samarium oxide in March 2026.
At a glance
- Founded
- 1983 — Incorporated in Western Australia on 23 May 1983; moved into rare earths via the Mt Weld deposit in the early 2000s.
- Headquarters
- Perth, Western Australia, Australia
- Ownership
- Listed, ASX: LYC; ADRs trade over the counter in the United States as LYSDY. On 2 September 2026 a Lynas spokesperson told Reuters that the company had been in takeover discussions earlier in 2026, and that those discussions “had a high level of uncertainty and did not proceed.” No counterparty was named, and the confirmation was made to a wire service rather than in an ASX announcement.
- Revenue
- AUD 977.9 million total sales revenue
Reported, FY26, year ended 30 June 2026.
Net profit after tax AUD 222.4 million. Lynas reports in Australian dollars; no conversion is applied here.
Source
Capacity
Each date below links to the document the figure came from. A capacity figure with no source is not on this page.
| What | Figure | Status | As of |
|---|---|---|---|
| Mt Weld mine and concentrator, Western Australia — nameplate feedstock | sufficient to support 12,000 t/yr NdPr finished product | Operating | Aug 2025 |
| Kalgoorlie cracking and leaching plant — nameplate mixed rare earths carbonate | supporting 9,000 t/yr NdPr finished product | Operating | Aug 2025 |
| Lynas Malaysia separation and finishing, Gebeng, Kuantan — nameplate | 10,500 t/yr NdPr | Operating | Aug 2025 |
| Group production, FY26 (year to 30 June 2026) — actual output | 13,089 t REO, including 7,260 t NdPr | Operating | Jun 2026 |
| Heavy rare earths separation expansion, Lynas Malaysia | up to 5,000 t/yr heavy rare earth feedstock | Under construction | Jul 2026 |
| NdPr separation target under the Towards 2030 strategy | 12,000 t/yr NdPr | Announced | Aug 2025 |
Narrative
Lynas Rare Earths runs an integrated chain from the Mt Weld mine and concentrator in Western Australia, through a cracking-and-leaching plant at Kalgoorlie, to the advanced materials plant at Gebeng, Kuantan, Malaysia, where products are separated and finished. In FY26, the year to 30 June 2026, the group produced 13,089 metric tons of rare earth oxides including 7,260 metric tons of NdPr, and reported revenue of A$977.9 million and net profit after tax of A$222.4 million. It reports in Australian dollars. A heavy rare earths separation expansion is under construction in Malaysia, and the company has a supply arrangement with JS Link, which is building a magnet plant at Kuantan.
Where public sources disagree
- There is no single Lynas capacity figure. Mt Weld is built to support 12,000 t/yr NdPr, Kalgoorlie's output supports 9,000 t/yr, and Malaysian separation nameplate is 10,500 t/yr. Actual FY26 NdPr production was 7,260 t. Any single number quoted elsewhere is picking one stage of the chain.
- The Malaysian heavy rare earths expansion was announced at roughly A$180 million in October 2025; the June 2026 quarterly puts the cost at approximately A$294 million.
- The Seadrift, Texas project is the most uncertain item. Lynas flagged significant uncertainty at its FY25 result in August 2025, and the June 2026 quarterly does not mention it. No source confirms construction has started, and no nameplate capacity has been published.
Sources
- FY26 full year results — Lynas Rare Earths / ASX (2026-08-26)
- Appendix 4E and 2026 Annual Report — Lynas Rare Earths / ASX (2026-08-26)
- FY25 results and Towards 2030 strategy presentation — Lynas Rare Earths / ASX (2025-08-28)
- Quarterly activities report, June 2026 quarter — Lynas Rare Earths / ASX (2026-07-22)
- Heavy rare earths separation facility, Malaysia — Mining Technology (2025-10-29)
- JS Link agreement, Kuantan magnet plant — Lynas Rare Earths / ASX (2026-07-07)
- Lynas Rare Earths says it was in takeover talks earlier this year — Reuters via Mining.com (2026-09-02)
How this page is sourced
Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.
What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.
Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.
Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.
Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.
Get in touch← Back to Lynas Rare Earths in the atlas · the full supply chain atlas