0009 GMT - Ord Minnett suggests another reason why Lynas Rare Earths' capex estimate for the expanded heavy rare earths facility in Malaysia blew out to A$294 million, from A$180 million. Lynas attributes the increased cost to additional equipment to meet customers' specific product purity and physical characteristic needs. It also says sourcing equipment outside China has become more expensive, with geopolitical tensions driving up costs more broadly. "The reality may be that the initial estimate was under-done because the plan was announced on the run when China implemented its export ban and heavy rare earths oxide price blew out in the West," says analyst Matthew Hope. Ord Minnett had a sell call and A$14.00/share price target on Lynas ahead of its 4Q report. Lynas falls 7.2% to A$14.81. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 21, 2026 20:09 ET (00:09 GMT)

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