Australia's RareX hits nearly two-year high on consortium agreement with Iluka Resources

Rarex

22/04/2025 03:08

** RareX's REE.AX shares rise as much as 27.8% to A$0.046, their highest level since May 29, 2023

** Stock trims some gains to last trade 8.3% higher

** The critical minerals co and the larger Iluka Resources ILU.AX establish a consortium to apply for the Mrima Hill rare earths project and to form a Special Purpose Vehicle (SPV)

** Mrima Hill a globally significant rare earths project in Kenya, also prospective for phosphate, niobium, and manganese.

** YTD, REE up 333.33%

 (Reporting by Nichiket Sunil in Bengaluru)

 ((nichiket.sunil@thomsonreuters.com))