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Why Did Peak Rare Earths Sell Its UK Teesside Site for £3.5 Million?
8:35am on Wednesday 9th of July, 2025 AEST
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Mining
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Why Did Peak Rare Earths Sell Its UK Teesside Site for £3.5 Million?
8:35am on Wednesday 9th of July, 2025 AEST
Key Points
Teesside site sold to Sembcorp Utilities UK for £3.5 million
Sale includes surrender of Environmental Permit with capped rehabilitation costs
Site deemed non-core due to strategic shift towards Ngualla Project and Tanzanian operations
Proceeds to support land compensation and costs at Ngualla Rare Earth Project
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