Australian mining company Brazil Rare Earths reported in the early hours of Tuesday that it had raised A$120 million to accelerate the development of rare earth projects in Brazil through a share issue, according to a company statement.
According to the document, BRE has received firm commitments to place 25.6 million new ordinary shares at an issue price of A$4.68 per share.
According to the company, the funds will also serve to reduce the construction time of the integrated rare earth separation refinery planned in Camaçari, Bahia.
BRE currently operates the Rocha da Rocha and Amargosa projects, both in Bahia.
Source: Terra
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