Peak Rare Earths Limited (ASX: PEK) has announced updates to the market including with respect to the proposed Shenghe transaction.
Peak has confirmed that since signing a non-binding term sheet in late July 2024, it has made substantial progress with Shenghe towards finalizing legally binding transaction documentation that supports an integrated investment, funding and development solution for the Ngualla Rare Earth Project.
Peak and Shenghe are continuing to discuss several outstanding issues and are also assessing the potential impact of a series of draft rare earth regulations published by the Chinese Ministry of Industry and Information Technology (MIIT).
Peak has also highlighted that given recent geopolitical developments, there is increasing recognition of the strategic importance of world-class critical mineral projects like Ngualla.
Additionally, Peak is continuing to progress its sale process over its 49-acres Teesside in the United Kingdom with discussions underway with parties that are interested in both the full site as well as smaller sub-divided plots.
To find out more, please visit www.peakrareearths.com
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