Lynas to acquire Meteoric Resources for $674 million
The Australian rare earths producer will add Meteoric's Brazilian Caldeira project, the largest known ionic clay rare earth oxide resource outside China.
Palanor Wire · composed from 3 outlets · every claim links to its sources
What happened
Lynas Rare Earths agreed to acquire Meteoric Resources for approximately $674 million. 123 The companies entered into a binding agreement for Lynas to purchase all of Meteoric's shares. 12 The transaction adds the Caldeira rare earths project in Minas Gerais, Brazil to Lynas' portfolio. 123 Caldeira is described as the largest known ionic clay rare earth oxide mineral resource outside China. 23
What to watch
Caldeira's development requires investment exceeding $500 million. 1
Sources · 3
[1]Lynas flexes international muscle with Meteoric takeover
Australian Mining
[2]Lynas Rare Earths to Acquire Meteoric Resources
Engineering & Mining Journal
[3]Lynas acuerda adquirir Meteoric Resources por US$ 674 millones y sumará proyecto Caldeira
Rumbo Minero
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