HIGHLIGHTS
Q2 FY24 Q1 FY25 Q2 FY25
• Quarterly gross sales revenue: A$136.2m A$120.5m A$141.2m
• Sales receipts: A$107.1m A$127.5m A$145.9m
• Closing cash and short term
deposits:
A$686.1m A$414.3m A$308.3m
• Total REO production: 1,566t 2,722t 2,617t
o NdPr production: 901t 1,677t 1,292t
• Cash payments for CAPEX,
exploration and development
A$182.2m A$125.0m A$140.9m
CEO REVIEW
During the December quarter, we were delighted to welcome the Australian Minister for Resources and
Northern Australia, the Hon. Madeleine King MP, to officially open our new Kalgoorlie Facility on 8th
November 2024. The opening highlighted the significance of our Kalgoorlie Facility as Australia’s only
downstream rare earths processing facility and the incredible achievement by all involved to construct,
commission and commence operations of a facility of this scale and complexity in less than two and a half years from the receipt of full approvals.
During the quarter we also successfully commissioned and integrated Stage 1 of the Mt Weld Expansion Project (dewatering circuit) into operations. These are significant milestones for our Lynas 2025 growth plan and it is pleasing that both are now part of normal operations.
An uplift in sales revenue to $141.2m and sales receipts to $145.9m was achieved for the quarter despite
continuing low market prices and subdued inside China demand. The revenue growth reflected our focus on high value strategic customers and product mix and benefited from favourable foreign exchange rates.
Quarterly production of total rare earth oxide (REO) production at 2,617 tonnes and NdPr production at 1,292 tonnes was lower than we had planned, reflecting very low production in December.
Shareholders will recall we have an annual (calendar year) lanthanide processing limit in Malaysia for Mt Weld concentrate. The annual ceiling was reached in late November 2024 and during December downstream production was completely dependent on mixed rare earth carbonate (MREC) feedstock from Kalgoorlie. Whilst we had sufficient MREC feedstock on hand for December production, we .. see & read more on
https://wcsecure.weblink.com.au/pdf/LYC/02903889.pdf