Sydney, Jan 15, 2026, 16:52 AEDT — After-hours.
- Lynas Rare Earths slipped 0.8%, after earlier reaching A$16.17 during the session
- CEO Amanda Lacaze is set to retire, prompting the board to launch a search for her successor
- Investors are eyeing the Jan. 21 quarterly report for fresh clues on demand and pricing
Lynas Rare Earths Ltd shares fell 0.8% Thursday, closing at A$15.43 after briefly rallying to A$16.17 earlier in the session. The rare earths miner’s market cap stands around A$15.5 billion. 1
The late-day slip is significant since Lynas offers a high-beta play on two fronts: securing supply chains for strategic minerals and navigating a leadership change at one of the West’s rare large-scale producers outside China.
This month, fast money has rushed into those themes. The stock’s swings have tracked policy headlines and positioning more than company-specific news. The coming sessions will reveal whether that buying momentum holds steady.
In a market filing dated Jan. 13, Lynas revealed that CEO and managing director Amanda Lacaze plans to retire after 12 years at the helm. She intends to remain in her role until the end of the current financial year while the board searches for her successor. Lacaze said she had “loved every day” in the position and highlighted wrapping up the “Lynas 2025” investment program alongside launching the “Towards 2030” growth strategy. Chair John Humphrey noted the company’s market value had surged from roughly A$400 million in 2014 to nearly A$15 billion.
Some investors welcomed the timing. Dylan Kelly from shareholder Terra Capital described Lacaze’s track record as “spectacular,” while Andy Forster, a portfolio manager at Argo Investments, pointed out that Lynas already had “a plant up and running” ahead of competitors. Both, however, emphasized that picking the next CEO will be crucial. 2
Policy is another key factor. This week, Australia announced it will focus on rare earths, antimony, and gallium within a A$1.2 billion critical minerals strategic reserve. The plan involves tools like forward contracts and offtake agreements—contracts to purchase future output—as it aims to secure supply chains for allies and cut dependence on China. Treasurer Jim Chalmers said the reserve will help Australia “weather global economic uncertainty” while boosting trade and investment. 3
Overnight, the U.S. threw in a new development. President Donald Trump announced he won’t slap tariffs on rare earths, lithium, or other critical minerals for the time being. Instead, he directed efforts toward negotiations with trade partners to lock in supplies, including “price floors” — essentially setting minimum import prices. 4
Policy support seldom comes without complications. The impact hinges on specifics — volumes, pricing models, participant commitments — and these factors often evolve rapidly during government talks. On top of that, CEO changes can rattle investors, especially if leadership transitions stall or strategic goals pivot.
Lynas occupies a tight niche. Investors commonly group it with U.S. rare-earths miner MP Materials and a few Australian hopefuls, especially as the market shifts between concerns over “China risk” and bouts of “too much optimism,” leading to choppy price moves.
Lynas will release its quarterly report for the period ending Dec. 31 on Wednesday, Jan. 21. Lacaze is set to lead an analyst and shareholder briefing at 12 p.m. Sydney time. Investors will be looking to see if the numbers back up the narrative—or if Thursday’s pullback was just a blip.
