09
Nov
14:32
TechMet to buy up to 33% stake in rare earth project
Dublin-based technology metals investment company TechMet will inject $50 million into the Phalaborwa rare earth project in South Africa being developed by London-listed Rainbow Rare Earths, Kallanish reports.
The agreement could grant TechMet a 15-33% direct equity stake in the project, underpinning a valuation of the project equity between $151.5m and $333.3m, Rainbow says.
Overall capex, according to a 2022 preliminary economic assessment, stands at $295m. I…
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