Peak notes possible foreign investment hurdle
PERTH (miningweekly.com) – Rare earths developer Peak Rare Earths on Friday said that it was "investigating" reports that shareholder Shenge Resources' recent investment into the company could potentially not comply with Australia’s foreign investment laws.
Chinese rare earths group Shenghe Resources Holding Co has acquired a 19.9% stake in Peak through a deal with shareholder Appian Pinnacle, with the transaction priced at 99c a share.
Peak on Friday pointed out that the company was not directly involved in any discussions or negotiations regarding Shenghe’s purchase.
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