- Peak Resources (PEK) has released a wide-ranging market update, which revealed it will pursue a number of opportunities
- The company has flagged plans to create another business for its Ngualla Rare Earth Project, following a successful mining conference
- This new company would hold the interests of both PEK and the Tanzanian Government if a special mining licence for the project granted
- Additionally, the company intends to exercise its option to buy a parcel of land near Teesport, in the U.K.
- It comes after the British Government granted Teesport free-port status, meaning projects near the site would advance rapidly
- Peak intends to build a rare earth refinery near Teesport, and, if it pushes ahead, the land will cost £1.8 million (roughly A$3.2 million)
Peak Resources: Pursues new company and port option
