Mallesons is pleased to be advising Lynas Rare Earths Limited (ASX: LYC) on its acquisition of Meteoric Resources Limited (ASX: MEI) by way of scheme of arrangement.
The all-scrip transaction implies an equity deal value of approximately A$968 million.
Lynas is the most significant producer of separated rare earth minerals outside China. The acquisition will bring Meteoric’s Caldeira Rare Earth Project in Minas Gerais, Brazil, into the Lynas portfolio, in line with Lynas’ Towards 2030 growth strategy to add resource and scale to its operations.
Lynas has also committed to provide Meteoric with an unsecured interim funding facility of up to A$110 million to continue development of Caldeira during the scheme process.
The Mallesons team was led by Partner Robert Kelly, supported by Senior Associate Ailsa Wallace and Solicitors Bella Crulli and Natasha Holman. Mallesons worked alongside Brazilian law firm BMA Advogados, which advised Lynas on the Brazilian law aspects of the transaction.
Commenting on the transaction, Rob Kelly said:
“We are very proud to have supported Lynas on helping it achieve this important milestone. Caldeira gives Lynas a second major resource base and strengthens Lynas’ position in the global rare earths supply chain. We look forward to continuing our relationship with Lynas as we work together towards implementation.”
Mallesons also advised Lynas on its A$750 million capital raising in September 2025, supporting its Towards 2030 growth strategy.
