Peak Resources Receives Letter of Intent to Fund the Ngualla Rare Earth Project From the U.S. 

  • Nov 26, 2019 AEDT
  • Team Kalkine
Peak Resources Limited (ASX: PEK) announces that the United States showed interest in the Ngualla Rare Earth Project, controlled by the PEK via taking 100 per cent stake in the PR NG Minerals Limited, Tanzanian owner of the project’s exploration licences and special Mining Licence application.
  • Peak received a “letter of interest” from the Overseas Private Investment Corporation- a U.S. government agency.
  • China’s dominance in the rare earth and critical metals is now prompting other nations to secure the supply chain for critical metals.
  • Previously, Australia and the United States inked an agreement over the development of critical mineral resources in Australia.

 

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