11th Jan 2017 09:51
LONDON (Alliance News) - Rare Earth Minerals PLC on Wednesday said Macarthur Minerals Ltd has secured a CAD243,750 investment from Singapore's Tulshyan Group.
Macarthur is working on the Kalgoorlie iron ore project in Western Australia and Rare Earth owns a 16.56% stake in the company.
Following the investment by Tulshyan, a Singapore shipping and real estate group, Rare Earth's stake in Macarthur will fall to 16.15%.
Rare Earth shares were up 0.8% at 0.584 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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