11 stories mentioning ASX:LYC
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(Updates to add stock movement in the headline and the first paragraph)Lynas Rare Earths (ASX:LYC) shares fell nearly 2% in recent trading on Friday after the company said in an Australian bourse filing late Thursday that it appointed Chief Operating Officer Pol Le Roux as interim chief executive, effective July 1.Le Roux will succeed Amanda Lacaze, who will retire on June 30, the filing said.
Lynas Rare Earths (ASX:LYC) appointed Chief Operating Officer Pol Le Roux as interim chief executive, effective July 1, according to an Australian bourse filing on Thursday after market hours.Le Roux will succeed Amanda Lacaze, who will retire on June 30, the filing said.
Here are the ASX-listed companies with the biggest gains on Friday.Alcoa Corp (ASX:AAI): +4%, AU$93.22South32 (ASX:S32): +4%, AU$4.29Capstone Copper (ASX:CSC): +3%, AU$13.81James Hardie Industries (ASX:JHX): +3%, AU$28.97Evolution Mining (ASX:EVN): +3%, AU$12.18Rio Tinto (ASX:RIO): +2%, AU$186.03NEXTDC (ASX:NXT): +2%, AU$14.91SGH (ASX:SGH): +2%, AU$41.81Lynas Rare Earths (ASX:LYC): +2%, AU$18.92Pilbara Minerals (ASX:PLS): +2%, AU$6.28
Arafura Rare Earths (ASX:ARU) directors made a final investment decision for the Nolans Rare Earths Project in the Northern Territory, Australia.The decision marks the approval of the construction of the rare earths project, set to be Australia's first fully integrated ore-to-oxide rare earths operation, according to a Thursday disclosure to the Australian Securities Exchange.Arafura will then become Australia's third-largest rare earths producer after Lynas Rare Earths (ASX:LYC), the world's largest producer outside of China, and Iluka Resources (ASX:ILU), Reuters reported separately the same day.Arafura Rare Earths' $1.6 billion project will help deliver 4,440 metric tons of neodymium-praseodymium oxide.The project will supply 1,500 tonnes per annum to South Korea's Hyundai Motor( KRX:005380) and Kia (KRX:000270), equivalent to a 42% offtake.Germany's Siemens Gamesa will purchase 520 tonnes per annum, while Traxys in Europe and North America committed to an 800-tonne offtake.Arafura's decision comes after the Australian government committed AU$1.2 billion for its critical minerals strategic reserve, following confirmation from Canberra that the project will be eligible for the reserve, the Trade and Tourism Ministry said the same day.Export Finance Australia has issued a non-binding letter of support for an offtake of up to 500 tonnes per annum, which will be funded through the reserve.The company also signed investment deals with Germany and Australia for AU$230 million, while the Export-Import Bank of the United States is considering up to $300 million of financing support for the project.The project will create 600 construction jobs and 350 ongoing jobs upon the start of operations.Arafura's project comes as the U.S. is looking to reduce dependence on China for rare earths, the Wall Street Journal reported the same day."The world needs critical minerals, Australia has plenty of them, and we're helping workers and businesses make the most of this big opportunity," Treasurer Jim Chalmers said in a statement.
Sojitz (TYO:2768) is assessing rare earths investment opportunities across Southeast Asia and India as Japan seeks to reduce dependence on China for critical minerals used in high-tech manufacturing, Bloomberg reported Wednesday.Chief Financial Officer Makoto Shibuya said the company is studying regions linked to southern China, including Laos, Cambodia and Vietnam, as possible supply sources. India and other markets could also be considered if viable projects emerge, according to the report.Rare earths are used in products ranging from electric vehicle magnets and smartphones to defense systems. China controls much of the global supply chain, prompting Japan and other countries to diversify sourcing, the report said.Sojitz and Japan-backed energy agency Japan Organization for Metals and Energy Security have partnered with Lynas Rare Earths (ASX:LYC) for more than a decade through a joint venture focused on rare earths development in Australia. The companies agreed in March to begin discussions on mineral exploration projects and potential mine development both within and outside Australia, according to the report.Sojitz has also ruled out participation in the proposed Alaska LNG project, with Shibuya saying the US-backed venture remains too expensive. The company has gradually reduced its exposure to energy investments over the past decade, while keeping liquefied natural gas as one of its remaining focus areas, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
The Prime Ministers of Australia and Japan elevated critical minerals as a core pillar of their economic security relationship as part of the Australia-Japan Joint Declaration on Economic Security Cooperation, according to a Monday statement.The countries are committed to strengthening collaboration on investment and diversification of critical mineral supply chains.The Australian government will provide support of up to AU$1.3 billion through the Critical Minerals Facility and Export Finance Australia, including non-binding letters of support, to critical minerals projects involving Japan. The Japanese government provided around AU$370 million in investments and grants to certain projects.The key projects identified by the governments include Lynas Rare Earths' (ASX:LYC) project, Tivan's (ASX:TVN) Speewah fluorite project in Western Australia, Ardea Resources' (ASX:ARL) Kalgoorlie nickel project in Western Australia, as well as a project in which Alcoa (ASX:AII) is working with Japan Australia Gallium Associates to develop gallium recovery at one of Alcoa's operating alumina refineries in Western Australia.
Australian shares ended flat on Tuesday, while most Asian markets saw gains after reports of further negotiations between the US and Iran.The S&P/ASX 200 Index was little changed to close at 8,949.40.Iran is considering attending peace negotiations with the US in Pakistan, while Islamabad attempts to end a US blockade on Iranian ports, which is seen as a key obstacle to Tehran's participation, before a two-week ceasefire expires.On Monday, the Nasdaq Composite fell 0.3%, the S&P lost 0.2%, while the Dow Jones remained little changed.On the domestic front, the ANZ-Roy Morgan Australian consumer confidence fell 0.2 points to 64.3 in the week of April 13 to 19, ANZ reported.In company news, Rio Tinto Group (ASX:RIO) on Tuesday reported a 9% year-over-year increase in copper equivalent production in the first quarter, while global iron ore production jumped 12% to 82.8 million tonnes.Lynas Rare Earths (ASX:LYC) said its fiscal third-quarter gross sales revenue increased to AU$265 million from AU$123 million a year earlier, while sales receipts advanced to AU$234 million from AU$124.6 million.Lastly, Qantas Airways (ASX:QAN) launched a week-long sale on fares across 90 routes on the airline's domestic and regional network, including both the economy and business categories, with travel available through March 2027.
Australian shares are poised to rise on Tuesday, tracking higher global oil prices after Brent crude surged more than 5% on renewed Middle East tensions and escalating uncertainty around the Strait of Hormuz amid stalled US-Iran ceasefire talks.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.2%, 0.3%, and 0.01%, respectively.In the macroeconomy, the ANZ-Roy Morgan Australian consumer confidence fell 0.2 points to 64.3 in the week of April 13 to 19, ANZ reported Tuesday.In corporate news, Rio Tinto Group (ASX:RIO) on Tuesday reported a 9% year-over-year increase in copper equivalent production in the first quarter, while global iron ore production jumped 12% to 82.8 million tonnes.Lynas Rare Earths (ASX:LYC) said its fiscal third-quarter gross sales revenue increased to AU$265 million from AU$123 million a year earlier, while sales receipts advanced to AU$234 million from AU$124.6 million.Australia's benchmark index rose 0.1% or 6.4 points to close at 8,953.30 on Monday.
Lynas Rare Earths (ASX:LYC) said its fiscal third-quarter gross sales revenue increased to AU$265 million from AU$123 million a year earlier, while sales receipts advanced to AU$234 million from AU$124.6 million, according to a Tuesday filing with the Australian bourse.The company also reported quarterly rare earth oxide production of 3,233 tonnes, up from 1,911 tonnes in the prior-year period, as it achieved first-time samarium oxide production ahead of target in March, per the filing.The average selling price across all rare earth products during the fiscal third quarter was AU$84.60 per kilogram, in line with the prior quarter.Lynas Rare Earths said its cash payments for capital expenditure, exploration and development totaled AU$32.6 million in the fiscal third quarter, compared with AU$71.3 million a year earlier.
Lynas Rare Earths (ASX:LYC) received notice that JPMorgan Chase and its affiliates are no longer substantial holders of the company from April 9, according to a Tuesday filing with the Australian bourse.JPMorgan Chase and its affiliates became a substantial holder of the company on Feb. 16, with a 5.24% total voting power, an earlier filing showed.