Lynas Rare Earths of Australia announced that it will acquire Meteoric Resources, which is developing the Caldeira Project, a rare-earth deposit in southeastern Brazil, for approximately A$970 million. The acquisition price is equivalent to approximately ¥106 billion.
Australian rare-earths major Lynas Rare Earths announced on the 1st that it would acquire Meteoric Resources, a resource exploration company in the country. The acquisition price is approximately A$970 million, equivalent to roughly ¥106 billion.
Meteoric Resources, the acquisition target, is developing the Caldeira Project, a rare-earth deposit in Minas Gerais state in southeastern Brazil. The deposit is an ion-adsorption clay deposit and is expected to serve as a potential source of supply outside China, depending on progress in local development.