Lynas taps markets for $825M to help ‘reliable’ non-Chinese critical minerals supply

Lynas Rare Earths (ASX:LYC) is looking to raise as much as $825 million to further its capacity to produce “reliable” – and maybe more importantly – non-Chinese critical minerals as global demand continues to spike.

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The $13.7 billion minerals producer ranks as the largest outside China and has been enjoying a 2025 surge as countries look to cut Beijing out.

Lynas has already launched a fully underwritten placement to raise $750M; it’s coupling that with a non-underwritten share purchase plan that it hopes will add another $75M to its growing coffers by September.

All this comes at the same time that the Perth-headquartered miner unveiled its “Towards 2030” plan. The campaign is designed to “optimise performance from [these]… 2025 capital investments” and help pursue growth.

“The equity raising provides Lynas with the balance sheet strength to pursue a strong growth agenda,” Lynas’ managing director Amanda Lacaze explained.

“The rare earths market is rapidly evolving and we need to move at pace to maximise value from existing assets and create further value from opportunities. This includes continuing to grow our operations to serve the customers, downstream players, and governments who seek to partner,” Ms Lacaze said.

Lynas will also be taking another look at its capital discipline and general “rigour” to make sure it’s on the right track before its $825M windfall.

And, Ms Lacaze declared Lynas will “continue to engage with customers and governments on a range of initiatives to support the continued investment in and production of rare earths” as it works through the cap raise.

Macquarie Capital and Barrenjoy are working to bring investors on board for the raise.

There’ll be no M&A involved, the AFR said fund managers were told today.

LYC headed into Thursday at $14.73; it paused mid-morning.

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