On Closing Peak Resources Ltd. Rare Earth Financing for $29.5M and being Competitive with the Chinese

Rare Earth Deposits & Mining / Rare Earth Exploration, Mining, Processing, & Uses

Date posted: 08/26/15

Tracy Weslosky reports that Peak Resources Ltd. announced their recent closing of their bankable feasibility study financing for US$29.5 Million with the Appian Fund and IFC. In this interview, they discuss the cost advantages of Peak concentrate grades and the impact on their metallurgy processes. With the Peak Ngualla Rare Earth Project in Tanzania as their focus, the cost of production of the magnetic materials neodymium and praseodymium is anticipated to make them competitive with Chinese projects. The IFC invests in a lot of different developing economies and certainly Tanzania is one of many that they invest in, but this is their first investment in a rare-earth project so Peak is very happy to have them on board.