China's Shenghe to acquire half of Peak Rare Earth's Tanzania project

Peak Rare Earths

24/07/2024 01:40

July 24 (Reuters) - Australia's Peak Rare Earths
 PEK.AX  said on Wednesday Chinese miner Shenghe Resources
 600392.SS  would acquire a 50% stake in an U.K.-based firm that
owns 84% of its Ngualla project in Tanzania.
    Ngualla is a rare earths project in southern Tanzania owned
by PR NG Minerals, 87.5% of which is owned by Peak. 

($1 = 1.5126 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru; Editing by Subhranshu
Sahu)
 ((Roshan.Thomas@thomsonreuters.com;))