@Mallers I was also wondering why Lynas was soaring today, up nearly 19% at one point. It seems to be the result of a deal struck between MP Materials and the US Department of Defence to build a new magnet plant and expand rare earth capabilities in the US (AFR today). I’m not so sure this deal will mean anything significant to Lynas or Iluka in the short term so I’ve used the opportunity to sell some Lynas shares IRL today. It’s been over 2 years since Lynas has traded at these levels. I think it’s a flash in the plan, but I could be wrong!
“Lynas rose 17 per cent and fellow ASX-listed rare earths company Iluka Resources jumped 21.4 per cent after US-based MP Materials rocketed 51 per cent on the news it has struck a multibillion-dollar deal with the US Department of Defence to build a new magnet plant and expand rare earth capabilities.” (AFR, 11/07/2025)