Peak Rare Earths Limited (AU:PEK) has released an update.
Peak Rare Earths Limited has finalized a critical Offtake Agreement with Shenghe Resources for the Ngualla Rare Earth Project, securing 100% offtake of rare earth concentrate with a take-or-pay structure over an initial 7-year period. The deal, approved by Peak shareholders and the Tanzanian Mining Commission, not only de-risks the venture but also positions Ngualla as a globally significant, undeveloped rare earth project. Discussions for a substantial project-level investment by Shenghe are ongoing, aiming to value the Ngualla Project higher than Peak’s current share price.
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