Peak Rare Earths is an ASX listed rare earth focused company focused on the development of its Ngualla Rare Earth Project in Tanzania. Once constructed, the Ngualla Project will be a large and cost-competitive producer of high-grade bastnaesite concentrate which will be used in a range of low carbon technologies that power the green transformation.
The Ngualla Project benefits from one of the highest grade undeveloped rare earth deposits in the world and has an initial 24-year Life-of-Mine supported by JORC Compliant Ore Reserves. The Ngualla deposit contains bastnaesite mineralisation that is low in acid consuming elements and in radionuclides (such as thorium and uranium), resulting in lower overall processing and waste management costs. A two-stage flotation plant located at site will beneficiate Ngualla ore to produce a high-grade bastnaesite mineral concentrate.
Peak has completed a Bankable Feasibility Study Update for the Ngualla Project which is based on extensive pilot plant test work, detailed engineering and design and JORC 2012 Compliant JORC Reserves. With a binding offtake agreement and strategic EPC and funding MOU in place with its major shareholder and strategic partner Shenghe, Peak is positioned to become the next major player in the rare earth sector. Peak continues to progress key commercial and technical workstreams ahead of a targeted Final Investment Decision in April 2024.
Cash: AUD25.9m
Debt: NIL
Major Shareholders:
Shenghe Resources – 19.8%
Management ownership – 1%