<WIRE> Peak Rare Earths (ASX:PEK) Jumps on Supply Deal with China’s Shenghe

Peak Rare Earths has experienced a significant rise on the exchange, jumping as much as 6.1% to A$0.525.

This spike marks its biggest intraday gain since July 11.

At these levels, Peak Rare Earths (ASX:PEK) reaches its highest standing since July 21.

The company reported that it had secured an agreement to supply rare-earths concentrate from its Ngualla project in Tanzania to the Singapore-based unit of Chinese rare earths processor Shenghe Resources Holding.

The supply agreement is drafted for an initial term of seven years.

Peak Rare Earths (ASX:PEK) expects the completion of the Ngualla project’s construction and development by early 2026.

The firm’s shares are up 15.1% this year, up to its last close.

Peak Rare Earths (ASX:PEK) is a company primarily associated with the extraction and supply of rare earth materials.

View full chart on Save $30 on a Pro or Premium TradingView account

Save $30 on a Pro or Premium TradingView account

Supported by

<SPON> Trade share CFDs with Plus500

Global online trading services company, Plus500:

Plus500 trading platform allows you to trade shares from all popular markets such as USA, UK, Germany and more, with leverage and low spreads. Using our advanced trading tools, you can also control your profits and losses.

Plus500AU Pty Ltd, AFSL #417727 issued by Australian Securities and Investments Commission. Based in Sydney.


Subscribe to the newsletter

Receive whispers every day in your inbox.