• Updated long-term agreement to 2038
• US$110/kg NdPr floor price
• Firm offtake for 5,000 tonnes per annum NdPr and 50% of all HRE oxides produced by Lynas
• Upside sharing arrangement above US$150/kg NdPr

Lynas Rare Earths Ltd has announced an updated long-term agreement with Japan Australia Rare Earths B.V. (JARE) to 2038, reflecting the rapid evolution of the rare earths market and providing a foundation for Japan's continued leadership in supporting sustainable global rare earth supply chains. The updated agreement reaffirms Lynas' commitment to provide up to 7,200 tonnes per annum of NdPr to Japanese industry, with JARE providing a firm commitment to purchase 5,000 tonnes NdPr per annum at a market-linked floor price of US$110/kg. Additionally, 75% of all HRE oxides produced by Lynas will be made available to Japanese industry, with JARE committing to purchase the equivalent of 50% of all HRE oxides produced by Lynas. The agreement also includes an upside sharing arrangement, where Lynas and JARE will share any price upside above US$150/kg NdPr, capped at a maximum of US$10 million each calendar year.

Lynas and JARE have agreed a market-based offtake price with a price floor of US$110/kg NdPr for sales to Japanese industry and an upside sharing arrangement. Where Lynas' achieved price is above US$150/kg NdPr, an amount equal to 30% of the upside above US$150/kg NdPr, capped at a maximum of US$10 million each calendar year, will be paid to JARE.