Shenghe Resources' Peak Rare Earths acquisition nears completion

Shenghe Resources Holding Co., Ltd. announced that its subsidiary, Shenghe Singapore, is set to complete the acquisition of Peak Rare Earths Limited by September 30, 2025. This follows the satisfaction of all precedent conditions, including approvals from the Tanzania Fair Competition Commission and the Australian court. The court's approval order has been submitted to the Australian Securities and Investments Commission, officially activating the "Scheme Implementation Deed."

The acquisition initially involved Ganzhou Chenguang Rare Earth New Material Co., Ltd. as the acquiring entity, but this was later changed to Shenghe Singapore. Shenghe Singapore currently holds 84,806,893 shares in Peak, representing a 19.7% stake. The total acquisition price for 100% of Peak's equity was adjusted to A$195m from an initial A$158m.

The final payment and equity transfer are expected to occur on September 30, 2025, marking the conclusion of a process that began with board approval on May 14, 2025. This strategic move aims to expand Shenghe Resources' rare earth interests.