NewsFlash / Rare Earth / Shenghe Resources' Subsidiary Chenguang Rare Earth to Acquire 100% of Peak Rare Earths Limited for AUD 158 Million
Shenghe Resources' Subsidiary Chenguang Rare Earth to Acquire 100% of Peak Rare Earths Limited for AUD 158 Million
iconMay 15, 2025 15:32
Source:SMM
Shenghe Resources announced that its wholly-owned subsidiary, Chenguang Rare Earth, plans to acquire all the ordinary shares issued by Peak Rare Earths Limited (Peak) through a scheme of arrangement, representing 100% of the total shares. The total consideration for the transaction is AUD 158 million, equivalent to approximately RMB 742.6 million. Peak is a publicly listed firm in Australia, established in 2015 and headquartered in Perth. It is primarily engaged in the exploration, development, and production of rare earths. Its main project is the Ngualla rare earth project in Tanzania, which has already obtained a special mining license.

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