Lynas Posts Higher Profit as Demand for Rare Earths Surges

Lynas Rare Earths Ltd. posted a surge in half-year profit after increasing output and selling its main product at higher prices, trends that its chief executive said are accelerating in the current six-month period.

The Australian miner – one of few rare-earth suppliers outside China – reported net income of A$80.2 million ($57.1 million) for the six months ended December, up from A$5.9 million a year earlier. This fell short of a consensus analyst forecast of slightly more than A$112 million, heightened by a global focus on metal supply chains.