Ecora Resources (GB:ECOR) has released an update.
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Ecora Resources PLC has expanded its portfolio by acquiring a 0.85% Gross Revenue Royalty in the Phalaborwa Rare Earths Project, for $8.5 million, alongside a $1.5 million investment in shares of Rainbow Rare Earths Ltd. This marks Ecora’s first entry into the rare earth sector, focusing on elements crucial for renewable energy and electric vehicles. The deal is set to secure funding for the project’s advancement and offers Ecora a strategic position in a market with a robust demand forecast.
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