Japanese joint venture Japan Australia Rare Earths (Jare) has committed to buying from Australian producer Lynas Rare Earths at least 5,000 t/yr of neodymium-praseodymium (NdPr) oxide with a floor price of $110/kg until 2038, the latter said on 10 March.
Jare has also committed to buying at least 50pc of Lynas' heavy rare earth output as part of an improved agreement between the pair, the Australian producer said.
Lynas has agreed to pay 30pc of its price upside on neodymium-praseodymium sales valued at over $150/kg under the deal to Jare, the company said. But these payments will be capped at $10mn/yr, it added.
Lynas will supply Japanese producers with up to 7,200 t/yr of neodymium-praseodymium oxide and 75pc of its heavy rare earth oxide output over the deal period, expanding on an existing agreement.
Jare plans to buy rare earth oxides on behalf of Japanese producers. Lynas, Jare, and specific producers will agree on the pricing and volume terms of sales under the agreement, Lynas said.
The deal between Lynas and Jare expands on an existing deal between the pair. Lynas agreed to supply up to 65pc of its dysprosium and terbium output to Japanese producers in March 2023.
The company also previously agreed to prioritise up to 7,200 t/yr of neodymium-praseodymium sales to Jare, when Lynas produces less than 9,600 t/yr of the oxide.
Lynas produced 6,375t of rare earth oxides in July-December 2025, up by 19pc on the year. Lynas plans to produce separated samarium from April 2026 and separated gadolinium, yttrium and lutetium by 2028, it said in late 2025. It began separated terbium and dysprosium production in 2025.
