News: LYC Lynas Posts Qtrly NDPR Production Of 1,526 REOT VS 1,045 REOT Reported Last Year

Oct 20 (Reuters) - Lynas Rare Earths Ltd (LYC) :

• QTRLY NDPR PRODUCTION 1,526 REOT VERSUS 1,045 REOT REPORTED LAST YEAR
• QTRLY TOTAL REO PRODUCTION 3,609 REOT VERSUS 3,500 REOT REPORTED LAST YEAR
• MARKET DEMAND REMAINS IN LINE WITH EXPECTATIONS
• QTRLY SALES REVENUE A$128.1M VERSUS A$163.8 MILLION REPORTED YEAR AGO
• DEMAND FOR HEAVY RARE EARTHS (HRE) IS INCREASING, DRIVEN BY GLOBAL DEMAND FOR EVS
• RETAINED SOME MIXED HEAVY RARE EARTHS (SEG) PRODUCT AS INVENTORY FOR FUTURE SALES ONCE CURRENT HRE PRICE RECOVERS
• IN MALAYSIA, WILL BE PLANNED SHUTDOWN OF ALL OPERATIONS, APART FROM MIXED RARE EARTH CARBONATE PROCESSING, IN DEC QUARTER STARTING FROM MID-NOV
• IN MALAYSIA, THERE WILL BE A PLANNED SHUTDOWN OF ALL OPERATIONS IN DEC QUARTER
• DURING SHUTDOWN, KEY MALAYSIAN C&L PERSONNEL WILL BE DEPLOYED TO ASSIST WITH START-UP PROCESS IN KALGOORLIE
• DURING MARCH QUARTER WE EXPECT MAXIMUM PRODUCTION RATES OF APPROXIMATELY 300TPM GROWING TO 750TPM IN JUNE QUARTER
• AT LYNAS MALAYSIA, WILL IMPLEMENT UPGRADE TO DOWNSTREAM OPERATIONS TO INCREASE NDPR PRODUCTION CAPACITY TO 10,500TPA
• MT WELD EXPANSION PROJECT SCHEDULE REMAINS ON TRACK WITH CONSTRUCTION ACTIVITIES PROGRESSING AS PLANNED
• MT WELD EXPANSION PROJECT FORECAST COST AT COMPLETION, INCLUSIVE OF CONTINGENCY IS A$570M
• HAVE NOW COMMENCED KILN HEATING CYCLE AT THE NEW KALGOORLIE FACILITY
• U.S. RARE EARTHS PROCESSING FACILITY IN TEXAS WILL SERVE BOTH DOD AND COMMERCIAL CUSTOMERS, AND IS TARGETED TO BE OPERATIONAL IN FY26