Lynas to acquire Brazilian rare earths miner Meteoric for US$670m

Lynas Rare Earths Ltd announced it will acquire Meteoric Resources Ltd through an all-share transaction valued at US$670 million, marking a significant expansion into Brazil's emerging rare earths and critical minerals sector.

The acquisition positions Lynas to strengthen its supply chain for critical minerals essential to global energy transition and technology industries. Brazil represents a growing source of rare earth elements and other minerals critical to battery production, renewable energy systems, and advanced manufacturing.

Lynas, which is backed by Australian mining magnate Gina Rinehart, has been actively expanding its operations beyond its flagship Malaysian refinery to secure diverse supply sources. The Meteoric deal complements the company's strategy to establish integrated rare earths production capabilities across multiple geographies.

The all-share structure of the transaction allows Meteoric shareholders to participate in Lynas' future growth. The acquisition is subject to customary closing conditions and regulatory approvals in relevant jurisdictions.

Rare earth elements remain critical to global supply chains for electronics, defence applications, and renewable energy infrastructure, with growing demand outpacing current production capacity worldwide.