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.