Fyi, I see where our "Little Ozzy Battler" Australia's Richest Billionaire from Down Under is off to Brazil chasing Her next $Billion in the Rare Earths Business now, as
Australian billionaire Gina Rinehart enters rare earths business in BrazilBrazilian Rare Earths, which is backed by mining magnate and Australia’s richest woman Gina Rinehart, will list on the ASX with a market capitalization of $315 million ($220 million).
The company will hit the bourse on December 18.
The listing is by way of 34 million new shares at $1.47 ($0.93).
Canaccord Genuity and Petra Capital are working to raise $32 million. Rinehart’s Hancock Prospecting took part in the company’s pre-IPO raise.
The company has 461 square kilometers of tenements in Brazil with a maiden JORC resource of 169 million tonnes at 1,526 parts per million total rare earth oxides.
The project in Bahia, northeastern Brazil, is one of the few potential producers with offtake not already committed to China.
The project is accessible by sealed roads, has access to clean hydro power via existing high-voltage power lines, and is located less than 200 km from a major deep-water port.
mining.com
Brazilian Rare Earths is an Australian company, rapidly advancing its Tier 1 rare earth project in Northeast Brazil.Company exploration to date has discovered and delineated a globally significant, district-scale mineral province containing large volumes of both heavy and light rare earths critical to advanced industries and applications that will deliver a green energy transition.
Rare earth elements play a crucial role as inputs in various cutting-edge applications, such as battery alloys, catalysts, ceramics, and metal alloys.
The demand for rare earths is on the rise, particularly in the production of high-strength permanent magnets used in power-dense electric motors for electric vehicles and wind turbines.
This growth in demand aligns with the expanding production of electric vehicles and wind turbines, which is expected to accelerate rapidly.
https://brazilianrareearths.com/Food for thought
Frank
(20min delay)