JL MAG Rare-Earth Co., Ltd. Class H (HK:6680) has released an update.
JL MAG Rare-Earth Co., Ltd. has announced the strategic acquisition of a 9.8% stake in Hastings Technology Metals Limited for AUD 7.07 million, furthering its interests in the rare earth sector. The investment, funded by the proceeds from a Global Offering, aligns with JL MAG’s expansion into Australia’s rare earth market, particularly in the high-potential Yangibana Rare Earths Project. This move promises to enhance JL MAG’s position in the industry, leveraging Hastings’ significant PrNd mineral deposits and its anticipated annual production of 37,000 tonnes of rare earth concentrate by the first half of 2026.
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