Meteoric Resources Limited MEI
ASX · Australia · Non-Energy Minerals
AUD 0.25000.00 (0.00%)
Market closed· · AUD · Data may be delayed
Prices may be delayed and are for informational purposes only - not investment advice.
Market closed· · AUD · Data may be delayed
Prices may be delayed and are for informational purposes only - not investment advice.
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The transaction would give Lynas access to the Caldeira ionic clay rare earth project in Brazil's Minas Gerais state.
The deal gives Lynas a foothold in Brazil’s growing rare-earths industry and comes amid a race to rebuild rare-earths production outside China.
Investing.com -- Lynas Rare Earths (ASX:LYC) shares fell sharply on Thursday after the miner agreed to acquire Brazilian rare-earth developer Meteoric Resources in an all-share deal valued at A$968 million ($672 million).
Under the terms of the agreement, POSCO could receive up to 30% of Caldeira’s rare earth material for a period of up to seven years.
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