Lynas Rare Earths (ASX:LYC) reported quarterly gross sales revenue of $310.1 million for the three months ended Sept. 30, driven by higher market prices and stronger production volumes.
The sales total represented a 55% increase compared to $200.2 million recorded in the first quarter of financial year 2026, while total rare earth oxide output rose to 4,254 tonnes from 3,993 tonnes a year earlier.
Lynas Rare Earths stated that the production result reflected the work of the operations team to overcome ore concentrate quality challenges that affected downstream processing during the June 2026 quarter.
Sales receipts for the period totalled $266.6 million, while capital expenditure payments were maintained at $28.7 million as floor price agreements expanded to cover over 50% of production.
The company stated that it remains focused on delivering its Towards 2030 growth initiative while expanding downstream chemical capabilities.
Following the announcement, the Lynas Rare Earths share price was up to $12.74.
The miner recently executed an agreement to acquire 100% of Meteoric Resources to secure access to the Caldeira ionic clay project in Brazil.
In addition, Lynas executed partnership agreements during the quarter with JS Link for a magnet facility in Malaysia and cross-subscription convertible notes worth $29 million with LS Eco Energy.