PERTH: Australia’s Lynas Rare Earths Ltd will acquire Meteoric Resources Ltd in an all-share deal worth about A$968 million (US$670 million), giving it access to an emerging supplier of critical minerals in Brazil.
Lynas is the largest rare earths producer outside of China, which dominates mining and processing of the materials.
The miner is seeking to diversify its resources through the acquisition, the company said in a statement.
It will offer 0.0207 shares in Lynas for every one in Meteoric.
