Funding momentum builds for Tanzania rare earths project

The Ngualla rare earth project, in Tanzania, has received robust support from leading development finance institutions (DFIs), export credit agencies and commercial banks. In a funding update on Monday, ASX-listed Peak Rare Earths revealed it had received indicative, nonbinding, expressions of interest totalling $176.6-million. This funding momentum comes against the backdrop of an estimated upfront capital cost of $287-million for the Nugualla project.