Lynas Rare Earths Agrees to Acquire Meteoric Resources for A$968 Million

Lynas Rare Earths agreed to acquire Brazilian rare-earth developer Meteoric Resources in an all-share deal valued at approximately A$968 million ($672 million). Under the binding agreement, Lynas will acquire 100% of Meteoric at a fixed exchange ratio of 0.0207 Lynas shares per Meteoric share.

The acquisition centers on the Caldeira Rare Earth Project in Minas Gerais, Brazil, which Lynas identifies as the largest known ionic-clay rare-earth oxide mineral resource outside China. The project is expected to increase the total measured and indicated rare-earth oxide resources of Lynas by about 79%.

Following the announcement, Lynas shares fell 7.1% to A$12.85, marking an eight-month low. Developing the Caldeira project is estimated to require more than $500 million in capital expenditure. The companies target deal implementation for March 2027, pending required approvals and a scheme meeting scheduled for January 2027.