Lacaze will leave the role at the end of the company’s financial year in June, the company said in a statement.

Lynas’s shares initially shrugged off the move, rising as much as 3% before paring some of that advance.

Known for her colourful and outspoken personality, Lacaze is one of just a handful of female CEOs in the mining industry.

She turned around a company that was on the brink of collapse in 2014, making it one of the standout stocks among the biggest 50 firms listed on the Australian exchange.

Lynas shares more than doubled over the past year as critical minerals became a focal point of geopolitical and trade tensions.

The company is currently the only supplier of both light and heavy rare earth oxides outside of China, with a mine and processing facility in Western Australia and a refinery in Malaysia.

“Under Lacaze’s leadership, the company’s production and operating footprint has grown and our market value has increased from around A$400 million (around RM1.08 billion) in 2014 to close to A$15 billion (RM40.8 billion),” Lynas chairman John Humphrey said in the statement.

“This provides an excellent foundation for the company’s continued growth and development.”

Rare earths are used in permanent magnets critical for everything from smartphones to drones, electric vehicle motors and wind turbines.

Lynas is currently expanding its processing capacity of heavy rare earths at its Malaysian refinery to meet increasing demand for the metals.