Weekly News Review October 26 – November 1 2026

Quarterly results, new production capacities and international cooperation: This week’s news on critical raw materials was particularly diverse. Find all the details in our weekly roundup.

AUSTRALIA: STRONG QUARTER FOR LYNAS –

Rare earth producer increases revenue and production, while sales volumes decline.

Australian rare earth producer Lynas reported strong quarterly results (PDF) on Thursday. Revenue reached the equivalent of US$218.4 million, its highest level in more than four years. This is up 55 percent from the same period last year. Higher selling prices were the main driver, supported in part by floor price agreements, including with Japanese customers. Such agreements now cover more than half of Lynas’ production. Sales volumes, however, declined by around 18 percent year-over-year.

Rare earth oxide production rose 22 percent from the previous quarter to 4,254 tonnes. Neodymium and praseodymium production hit a new record of 2,082 tonnes. Combined output of dysprosium and terbium rose from nine to 23 tonnes, up from the same period last year.

Meanwhile, Lynas is expanding its supply chains outside China through metal and magnet manufacturing projects in Asia and a planned acquisition in Brazil.

For the current quarter, Lynas expects lower production volumes, in part due to extensive maintenance work at its Malaysian facility, which will require a shutdown lasting about one month. The site handles most of the material’s downstream processing.

USA: HYPROMAG PLANS SIGNIFICANT EXPANSION –

Three additional facilities could quadruple annual rare earth magnet production by 2034.

British magnet recycling and manufacturing specialist HyProMag is considering expanding its planned production capacity in the US. According to a recent pre-feasibility study, three additional facilities could be built in South Carolina, Nevada and Texas. Together with the already planned facility in Northlake, Texas, annual magnet production could increase to around 4,200 tonnes by 2034. This would be supplemented by approximately 1,800 tonnes of magnet alloy powder and other materials. HyProMag uses hydrogen to process end-of-life magnets and manufacture new components from the recovered material.

The additional facilities would require investments of between US$623 million and US$656 million. A final investment decision has not yet been made.

Meanwhile, Canadian critical minerals company Mkango Magnetic Materials, which holds a majority stake in HyProMag UK through an investment company, plans to acquire the remaining 10 percent of HyProMag Germany. The German company operates a rare earth magnet recycling and manufacturing facility in Pforzheim, which is currently undergoing commissioning.

AUSTRALIA REFINES CRITICAL MINERALS STRATEGY:

The updated strategy places greater emphasis on national security, domestic value creation and international partnerships.

Resource-rich countries increasingly want to do more than export their mineral resources. They also want to benefit from downstream stages of the value chain – and Australia is no exception. The government of Prime Minister Anthony Albanese reaffirmed this approach with an update to the Critical Minerals Strategy 2023–2030, which Resources Minister Madeleine King presented on Tuesday. The update reprioritizes existing measures in response to rising geopolitical tensions, distorted commodity markets and growing risks to international supply chains.

Specifically, Australia aims to expand domestic processing and refining of critical minerals, advance projects toward final investment decisions, and strengthen the development and commercialization of homegrown technologies.

Compared with the original 2023 strategy, the government is placing greater emphasis on national security and economic resilience. One instrument supporting these goals is the previously announced Critical Minerals Strategic Reserve, which initially focuses on antimony, gallium and rare earth elements. Australia also aims to deepen cooperation with international partners to attract investment, open up new markets and reduce dependence on highly concentrated supply chains.

CHINA PLANS SANCTIONS TO PROTECT TRADE SECRETS:

Foreign companies could face trade restrictions, supply bans and other measures. Public consultation is open until November 24.

China plans to strengthen protection for domestic trade secrets through sanctions targeting foreign companies, organizations and individuals, according to draft rules published by the Ministry of Commerce on Monday.

Under the draft, the ministry could restrict or ban trade in goods, technology and services involving China, as well as new investments in the country. Other proposed measures include targeted supply bans, entry restrictions, revoking work or residence permits, and fines.

The sanctions would apply to entities that infringe Chinese trade secrets and whose actions, in Beijing’s view, endanger or threaten the country’s sovereignty, security or development interests.

New Rules Would Complement Existing Sanctions Framework:

China’s rules governing its “Unreliable Entity List,” in force since 2020, already provide for similar sanctions. Beijing has also used dual-use export controls to impose targeted restrictions on companies and institutions from the U.S., Japan, and the EU. Such measures can cover raw materials including gallium and rare earths, which have both civilian and military applications.

China is also tightening controls on the transfer of strategic know-how. The country holds a leading position in sectors including electric vehicles, batteries and rare earth processing. The expertise it has built over decades is a crucial source of competitive advantage. In mid-October, the government proposed export restrictions on 40 technologies in photovoltaics, artificial intelligence and biomedicine. These include processes for producing polysilicon, silicon wafers and solar cells. Beijing had already banned exports of certain rare earth technologies in late 2023.

GERMANY AND JAPAN JOIN FORCES:

Joint offtake agreements and financing are intended to support new raw material projects. Increased recycling and stockpiling are also on the agenda. The agreement forms part of broader cooperation on economic security.

Germany and Japan aim to strengthen the security of their critical raw material supplies. On Wednesday, Parliamentary State Secretary Stefan Rouenhoff signed a declaration of intent between Germany’s Federal Ministry for Economic Affairs and Energy and Japan’s Ministry of Economy, Trade and Industry (METI). The signing took place during German Chancellor Friedrich Merz’s visit to Japan.

Joint offtake agreements and co-financing are planned for raw material projects, including in third countries. To that end, German and Japanese companies are to collaborate more closely on procurement.

The partnership falls within a joint declaration on economic security. Both governments aim to reduce dependencies in mining, refining and processing and encourage rare earth substitution in the automotive industry. They intend to monitor raw material supply chains more closely and coordinate possible joint responses to disruptions. Germany and Japan also seek to promote recycling and raw material stockpiling with other like-minded countries and partners.

This closer cooperation builds on the intergovernmental consultations held in 2023. At those talks, Germany and Japan agreed to strengthen supply chain security and expand technology exchanges between Germany’s Federal Institute for Geosciences and Natural Resources and Japan’s resources agency, JOGMEC. The organization has long supported overseas mining and processing projects and is regarded as a model for securing raw material supplies in Europe.