TOKYO -- Shenghe Resources Holding, a rare earth miner backed by China's Ministry of Finance, said Friday it is raising its takeover offer for Australian-listed peer Peak Rare Earths by 23%, citing increases in the market price of the strategic minerals since the original announcement in May.
Supply Chain
China's Shenghe raises bid for Australian rare earth miner Peak by 23%
Beijing-backed company cites 'big change' in strategic minerals market since May announcement
Crushed ore from a rare earth mine in the U.S. China's export curbs have pushed up prices of the key materials used in smartphones, weapons and more. © Reuters
Read Next
Latest on Supply Chain
