Ngualla rare earth project

Ngualla is one of the largest rare earth projects in the world.

The placement will support Peak as it progresses offtake, funding and development milestones for Ngualla and the Teesside Refinery.

With incredibly strong global demand for non-Chinese rare earths, we are ideally placed to supply these critical commodities.

PR NG Minerals is the wholly-owned subsidiary of Peak Resources that applied for a SML for the Ngualla Rare Earth Project.

“I am looking forward to working with on the board, as well as Peak’s in-country team, to realise the dream of the Ngualla project.”

With the completion of this important step, the Company is now only awaiting Cabinet approval of its SML application.

With an SML in place, Peak Resources will look to secure funding to build Ngualla, and an associated downstream beneficiation facility.

Peak Resources has been informed by the Tanzanian government that the Special Mining Licence assessment process for its Ngualla rare earth project is nearly complete.

After being recommended for grant by the Mining Commission the cabinet approval process for the granting of a special mining licence to Peak Resources Ngualla project in Tanzania in underway.

Peak Resources has received binding commitments for shares in the company at an issue price of $0.04 investors to raise up to approximately A$4.8 million.