Corrected: Lynas says talks on US magnet supply chain remain at early stage

Lynas Rare Earths

26/08/2026 02:27

Clarrifies in Aug 26 story that the CEO was referring to the development of a magnet making supply chain, not facility, in headline and first paragraph
SYDNEY, Aug 26 (Reuters) - Lynas Rare Earths LYC.AX interim CEO Pol Le Roux said on Wednesday that discussions were ongoing over plans to help develop a magnet-making supply chain in the United States, though they remained at an early stage.
"But we are on track on that development and more development is to come," Le Roux said on an earnings call.
Lynas reported a sharp rise in annual profit on Wednesday, helped by record average selling prices for rare-earth oxide and strong demand, but missed market expectations.

 (Reporting by Melanie Burton in Melbourne and Renju Jose in Sydney; Editing by Jacqueline Wong)
 ((renju.jose@thomsonreuters.com;))