LONDON – Bracewell (UK) LLP represented Ecora Resources PLC in relation to the acquisition of 0.85 percent gross revenue royalty over the Phalaborwa Rare Earths Project in South Africa. Ecora Resources will also acquire shares in Rainbow Rare Earths Ltd, the majority owner of the Phalaborwa Rare Earths Project, which is listed on the London Stock Exchange.
Rare earth elements occur naturally, but rarely in concentrated forms that are commercial to extract. They are essential in the production of permanent magnets, which are key components in renewable wind power turbines and electric vehicle motors. Consequently, rare earth elements are critical to the energy transition.
