Lynas to acquire Meteoric for $672M, securing Brazilian rare earth project

Australian rare earth miner Lynas announced a binding agreement to acquire 100% of Meteoric Resources via share swap, valuing the deal at approximately US$672 million. Meteoric owns the pre-operational Caldeira rare earth project in Poços de Caldas, Brazil, one of the next such projects expected to start operations in the country. The acquisition strengthens Lynas's supply chain outside China, but the deal is subject to shareholder and regulatory approvals.