Australia's Peak Rare Earth signs offtake deal with China's Shenghe Resources

Peak Rare Earths

09/08/2023 24:38

Aug 9 (Reuters) - Australia's Peak Rare Earths  PEK.AX 
said on Wednesday it had signed an offtake agreement with the
Singapore-based unit of Chinese rare earths company Shenghe
Resources  600392.SS .
    Peak will supply 100% of rare earths concentrate to Shenghe
for an initial term of seven years from its Ngualla project in
Tanzania, which is expected to complete construction and
development by early 2026.

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))