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Peak Rare Earth Shenghe Announcement.pdf

A significant move this week in the rare earth sector.

Shenghe Resources has announced a deal to acquire 100% of Peak Rare Earths and the Ngualla deposit in Tanzania for AUD 158 million.

Ngualla is a large, high-grade rare earth asset with real strategic weight. Shenghe’s full acquisition consolidates their prior stake and shows just how quickly the global race for critical mineral supply security is moving.

At Cummins Range, we’re advancing one of Australia’s most promising multi-element critical minerals projects -rare earths, gallium, and scandium in a single system, with a de-risked supply chain, approvals in progress, and a potentially staged development pathway.

And through our proposal to develop Mrima Hill in Kenya with our partner Iluka Resources, we are seeking to unlock one of the world’s largest undeveloped monazite deposits, within a Kenyan–US–Australian tripartite arrangement designed to deliver in-country value while linking into allied supply chains.

Shenghe’s moves globally underscore the geopolitical and economic importance of rare earths. They also reinforce what we’ve long believed: Diversified supply chains are no longer optional, they are strategic imperatives.

RareX is proud to be advancing projecs in this space.

Shenghe acquisition of Peak highlights strong positioning for RareX