Lynas Rare Earths (ASX: $LYC) Quarterly Report Highlights

Lynas Rare Earths Ltd (ASX: $LYC) has reported efficient production rates in the March quarter, achieving 1,724 tonnes of NdPr. The sales revenue and sales receipts for the quarter were $101.2m and $107.7m respectively, reflecting the low average NdPr price during the period. The Mt Weld Expansion Project schedule remains on track, with construction activities progressing as planned. The Kalgoorlie facility's final commissioning and initial production activities continued through the quarter, while detailed engineering, procurement, and approvals activities continued for the U.S. Rare Earths Processing Facility.

CEO Review and Project Updates

Excellent production rates, including 1,724 tonnes NdPr, were achieved in the March quarter. Sales revenue and sales receipts for the quarter reflected the low average NdPr price and the decision to hold inventory. The Mt Weld Expansion Project schedule remains on track, with construction activities progressing as planned. The Kalgoorlie facility's final commissioning and initial production activities continued through the quarter. Detailed engineering, procurement, and approvals activities continued for the U.S. Rare Earths Processing Facility.

Summary of Quarterly Report and Outlook

Lynas Rare Earths Ltd (ASX: $LYC) reported efficient production rates and construction progress in the March quarter. The company's Mt Weld Expansion Project remains on track, with construction activities advancing as planned. The Kalgoorlie project budget has been increased to approximately A$800m, and the U.S. Rare Earths Processing Facility's detailed engineering, procurement, and approvals activities are progressing. Lynas remains committed to safety, sustainability, and compliance with local laws and regulations. The company's focus on holding inventory in the low price environment is expected to yield better value as market prices have started to improve in April.