Australia's Lynas rises as Jefferies backs Malaysia rare-earth magnet factory deal

JS Link

08/07/2026 06:10

Updates
** Miner Lynas Rare Earths' LYC.AX shares rise as much as 2.2% to A$17.28
** Jefferies says agreement to develop a magnet factory in Malaysia with South Korea's JS Link 127120.KQ is a controlled approach to downstream integration without committing balance sheet or operating model to capital-intensive, execution-heavy part of value chain
** Adds, deal strengthens Lynas' downstream channels while leaving capital available for upstream growth in its higher-margin core businesses of mining and separation, and potential for heavy rare earths consolidation
** Jefferies says JS Link improves NdPr demand visibility and downstream alignment, and continues to demonstrate Lynas' strategic position as a key ex-China supplier
** Brokerage reiterates "buy" call for Lynas, PT A$22

    ** YTD, up about 37%
  

(Reporting by Nikita Maria Jino and Anjali Singh in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))