Lynas to Acquire Meteoric for US$672M, Securing Brazil Rare Earth Project

Australian rare earth producer Lynas will acquire all shares of Meteoric, gaining its Caldeira project in Minas Gerais, Brazil, in a deal valued at US$672 million. The acquisition diversifies Lynas' supply chain beyond its existing Australian and Malaysian operations, aligning with Western efforts to reduce dependence on Chinese rare earth processing. The deal is subject to shareholder and regulatory approvals, with completion expected in 2026.