• Quarterly gross sales revenue of A$141.2m, highest since June 2023
• Sales receipts of A$145.9m, reflecting focus on high value strategic customers
• Total REO production of 2,617t, impacted by technical issues with new feedstock

Lynas Rare Earths Ltd reported its Q2 FY25 results, with quarterly gross sales revenue of A$141.2m, the highest since the June 2023 quarter. Sales receipts were A$145.9m, reflecting the company's focus on high value strategic customers and optimized product mix, complemented by favorable foreign exchange rates. Total REO production was 2,617 tonnes, lower than planned, due to technical issues with impurities in the mixed rare earth carbonate (MREC) feedstock from the new Kalgoorlie facility, which required additional treatment. The annual lanthanide processing limit in Malaysia for Mt Weld concentrate was also reached in late November 2024, leading to a reliance on MREC feedstock in December. The company has identified technical solutions to address the MREC feedstock issues, and preventative maintenance was undertaken on the Malaysian cracking and leaching plant during the shutdown in December. Lynas continues to progress its growth projects, with the Stage 1 Mt Weld Expansion Project dewatering circuit now integrated into operations, and construction of Stage 2 ongoing. In the U.S., the company has identified a pathway to resolve the previously noted wastewater management challenges at the Seadrift site and is working with the Department of Defense to assess this and alternative approaches.