Melbourne, Jan 13, 2026, 16:51 AEDT — Market closed.
- Lynas shares rose following CEO Amanda Lacaze’s announcement that she plans to retire after 12 years at the helm.
- The board has launched a search for Lacaze’s successor, with Lacaze set to remain until the financial year ends.
- Momentum is growing around “critical minerals” policy as Australia teams up with G7 partners to explore ways to stabilize rare earth supplies.
Lynas Rare Earths Ltd (ASX: LYC) shares closed up 2.5% at A$15.15 on Tuesday after CEO Amanda Lacaze announced she plans to retire following 12 years in the role. The board has launched a search for her successor, with Lacaze set to remain until the end of the financial year. Chair John Humphrey highlighted that the company’s market value has surged from around A$400 million in 2014 to nearly A$15 billion. 1
The timing is crucial because Lynas stands out as one of the few Western companies that can challenge China’s dominance over rare earth supply chains. This week, Australia announced plans to launch a A$1.2 billion ($802 million) strategic reserve focused on rare earths, antimony, and gallium. The strategy will rely on forward offtake agreements and contracts for difference—mechanisms aimed at managing price risk between deal signing and delivery. 2
In Washington, G7 finance ministers and partners like Australia gathered to tackle dependence on China for rare earths. Officials said discussions covered options from setting a minimum price to forging new supply partnerships. These 17 metals play a crucial role in magnets, electronics, defense systems, and renewable energy tech.
Investors who stuck with Lynas during its rocky start are now focused on the upcoming leadership change. Dylan Kelly from shareholder Terra Capital described Lacaze’s track record as “spectacular.” Argo Investments portfolio manager Andy Forster added that the company was “way ahead” of its rivals. 3
The political push is growing more overt. Resources Minister Madeleine King noted Australia is “refining them right now,” highlighting Lynas’ processing at Kalgoorlie. She called Mount Weld feed the only Western rare earths material currently being processed. King also mentioned Iluka’s heavy rare earths stockpile at Eneabba, aiming for production from early 2027, and said Arafura’s Nolans project is progressing through investment decision-making.
Lynas shareholders are now watching to see if the incoming CEO will stick to the current strategy: boosting processing outside China and syncing up with U.S. and allied supply-chain goals. Even a hint of a prolonged search or a shift in capital expenditure might slow the momentum that’s been driven largely by geopolitical factors.
The risk is that policy support comes too late or doesn’t effectively stabilize the market. Germany’s finance minister, Lars Klingbeil, noted that discussions about a rare earth price floor remain in their early stages, with “a whole series of questions” still unresolved and significant consequences to consider.
Rare earth prices often swing abruptly, even when markets seem calm, largely driven by Chinese supply and demand. This volatility hits producer earnings quickly, so traders keep a close eye on not only volume but also realised prices and who’s buying.
The next major event is Jan. 21, when Lynas will report its quarterly results for the period ending Dec. 31 and hold an analyst and shareholder briefing at noon Sydney time. After that, the stock’s direction will probably depend on two factors: who is appointed CEO, and if Canberra’s reserve plans evolve into concrete contracts for producers.
