Lynas Rare Earths has secured minimum-price contracts covering over half its output, pushing average realised prices up 88% to a record A$102.1/kg and quarterly revenue up 55% to A$310.1 million, despite an 18% drop in sales volumes to 3,039 tonnes of rare earth oxides. Production reached 4,254 tonnes, including a record 2,082 tonnes of neodymium-praseodymium oxide, with planned shutdowns at the Malaysian separation plant (about one month) and Kalgoorlie (about two weeks) expected to be covered by inventories. The A$12.2 billion company is also advancing a A$968 million all-share acquisition of Meteoric Resources’ Caldeira project in Brazil to supply mixed rare earth carbonate into its Malaysia-based separation circuit.

Gold slumped 3.2% intraday to $3,891.67/oz, its lowest in a year and about 28% below January’s $5,419.83 record close, while silver dropped 5.8% to $49.34/oz, erasing gains from its run above $120 and pushing the gold-silver ratio to its highest since December. Heavy Comex volumes saw futures covering 18 million oz of gold and 236 million oz of silver trade by midday as higher oil, renewed Fed hike bets and tech-led equity losses forced liquidation. Equity damage is severe: Newmont, Agnico, Barrick, Wheaton and Franco-Nevada have collectively shed nearly $140 billion from 52-week highs, with Kinross and major silver names such as Hecla and Coeur now more than 50% off their peaks.

Perseus Mining has secured a USP&E emergency power plant for the remote Nyanzaga gold project in northwestern Tanzania, installing 28 containerised Cummins KTA50G3 1 MW generator sets plus six 72,000-litre bulk fuel tanks, three pump skids and 28 day tanks to bridge the lack of reliable grid supply. ECG, an Australian electrical and automation consultancy, is managing EPC delivery as Perseus targets first gold pour in January 2027. Nyanzaga is expected to produce over 200,000 oz/y for 14 years and contribute 28% of Perseus’ output to 2030.