Lynas gains on report China could ban rare earth exports afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
China is looking into curbing the exports of rare earth minerals that are crucial to US defense contractors such as Lockheed Martin for the manufacture of sophisticated weaponry and F-35 fighter jets
USA Rare Earth hopes to raise up to $500m in IPO
Pini Althaus, CEO, USA Rare Earth. Image from USA Rare Earth.
Reuters.
The company, which is developing the Round Top rare earths deposit in Texas, is considering an initial public offering (IPO) or going public via a special purpose acquisition company (SPAC), though it does not plan to issue debt, according to the source and documents.
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Investors are growing more interested in exposure to rare earths, 17 minerals used to build electronics
Any offering is expected to raise between $300 million to $500 million, which would be used in part to finance the Texas mine and processing facility. The company hopes to have it operating by 2023.
USA Rare Earth LLC has hired bankers to explore going public in a deal that could value the strategic minerals company at more than $1 billion, according to a source familiar with the matter and documents seen by Reuters.