Prime Highlights:
- Amanda Lacaze, after 12 years leading Lynas Rare Earths, will step down and hopes her successor is a woman.
- Under her leadership, Lynas grew from a $400 million start-up to a $15 billion global leader in rare earths.
Key Facts:
- Lynas mines rare earths in Western Australia and processes them in Malaysia, producing the world’s only heavy rare earths outside China.
- Lacaze criticized government intervention that could undercut mining projects and remains optimistic about Australia becoming a global leader in rare earths.
Background:
Amanda Lacaze, a leading figure in Australian mining, has announced she will step down as CEO of Lynas Rare Earths and hopes her replacement will be a woman.
Lacaze has led Lynas for 12 years, transforming the company from a $400 million start-up into the world’s largest producer of separated rare earth oxides outside China, with a market value now at $15 billion. Her tenure coincided with growing global demand for secure, reliable sources of rare earths, vital for defence, renewable energy, and high-tech manufacturing.
Her departure follows a trend of high-profile women leaving the Australian resources sector, including Meg O’Neill, who recently left Woodside Energy for BP. Lacaze has been a strong supporter of women in mining, saying that they are often kept in deputy roles instead of being promoted to leadership positions.
At Lynas, she often criticized China’s control of the rare earths market, saying its policies keep prices low and make it hard for higher-cost competitors to survive. She welcomed recent moves by the United States to support rare earths production, citing a deal with MP Materials as a critical step toward creating a functioning market.
Lynas mines rare earths in Western Australia and performs early-stage processing at its Kalgoorlie plant, before refining the materials in Malaysia. The company recently began producing heavy rare earth oxides in Malaysia, the only production outside China. Lacaze emphasized the importance of combining Australia’s mining and geological expertise with Malaysia’s manufacturing capabilities, a strategy that has been key to Lynas’ success.
She also warned that government involvement in the rare earths sector, including Australia’s $1.2 billion strategic reserve, could hurt mining projects if not handled carefully. Despite stepping down, she is optimistic about Australia becoming a global leader in rare earths.
Lynas chairman John Humphrey praised Lacaze’s leadership, stating that her drive and vision transformed Lynas into a critical supplier to global manufacturing supply chains. Lacaze will remain in her role until the end of the financial year, with the company considering both internal and external candidates to take over.
