Technical, page-1529

There has been some uninformed speculation that Lynas's newest expansion plans are destined to feed the Chinese concentrate market in competition with MP. (Ie no cracking or separation, just enriched dirt.) Thankfully they aren't that stupid.

Quoting the ann:
"The Mt Weld expansion will target feedstock production capacity of 12,000 tonnes per annum NdPr equivalent in 2024. Further capacity expansion in existing upstream and downstream production together with growth options for 2025 and beyond are being developed. This includes two additional stages at Mt Weld which offer a pathway to an additional 2,400 tonnes NdPr equivalent per annum each."

For now details of the Mt Weld capacity expansion have been provided.
The corresponding powerpoint makes it clear the expansion plans are for all stages from mine to final product finishing of oxides.
https://wcsecure.weblink.com.au/clients/lynascorp/headline.aspx?headlineid=61103071

The same uninformed sources claim MP are way ahead of Lynas in areas like reagent recycling and will be producing separated oxides sometime soon & far more efficiently than Lynas. Maybe they can get legacy equipment like the chlor-alkali reagent recycling to work, maybe not; the attempt sent the previous lot broke.
My opinion? MP will still be flogging off enriched dirt to China well after Lynas's plans have come to fruition.