Peak Rare Earths said that Chinese rare earths producer Shenghe Resources will acquire the Australian firm for A$150.5 million, in addition to the full amount raised under Peak’s proposed A$7.5 million entitlement offer. Under the deal, the state-owned miner’s unit Ganzhou Chenguang Rare Earths New Material will buy Peak for a minimum of A$0.359 per share in cash, if the…
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Tanzania inks US$667 million deal with Australian miners
Tanzania has signed agreements worth US$667 million with Evolution Energy Minerals, Ecograf, and Peak Rare Earths to mine rare earth minerals and graphite in the East African country, reported Reuters. Under the agreements, Tanzania will have a 16% stake each in jointly established companies to operate the projects. Peak Rare Earths will mine the minerals in the southwest, while Evolution…
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