The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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MP Evans Group PLC - Kent, England-based Indonesia-focused company which produces crude palm oil through sustainable methods - Says it has acquired two Indonesian companies, PT Agro Bumi Kaltim and PT Nusantar Agro Sentosa, for $60 million. Adds that it expects the sale to be completed before the end of 2023. Says the acquisition includes 8,350 hectares of planted land between the two firms. Says it is acquiring the firms from PT Palma Serasih Tbk. Chair Peter Hadsley-Chaplin comments: ‘The addition of the estates at ABK and NAS to the group portfolio is a great achievement and will bring our total area under management to over 65,000 hectares. We have been very keen to acquire more hectares close to Kota Bangun for some time, and having the ABK estate supplying its crop to our existing mills will further enhance our operational efficiencies.’
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Rainbow Rare Earths Ltd - South Africa and east Africa-focused rare earth oxide producer - Says initial assay results from its Uberaba phosphogypsum stack in Brazil show an average grade of 0.58% total rare earth oxides, above the 0.44% recorded at the Phalaborwa project. Says the area contains neodymium, praseodymium, dysprosium and terbium, with neodymium and praseodymium accounting for 0.25%. Adds that the positive results from the Uberaba stack show similar characteristics to Phalaborwa. Notes that it is planning additional test work. Chief Executive George Bennett says: ‘These positive initial assay results confirm that Uberaba represents a major opportunity for Rainbow to be able to develop an economic project along the lines of Phalaborwa, due to the similar nature of both gypsum resources.’
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Tertiary Minerals PLC - US and Zambia-focused mineral exploration and development company, concentrated on energy transition metals - Says the Swedish government has annulled the mining inspectorate’s 2019 decision to block Tertiary’s Storuman project. Says the mining inspectorate has been instructed to examine its decision. Notes that its project contains indicated and inferred mineral resources of 27.7 million tonnes at 10.2% fluorspar. Chair Patrick Cheetham says: ‘The Storuman project once underpinned a much higher market capitalisation for the company and whilst there is no immediate intention to allocate significant resources from other projects, the re-emergence of the Storuman Project as a potential value catalyst is timely as fluorine, sourced from fluorspar, is a component in the most common electrolyte used in lithium-ion batteries today and the use of fluorine-ion batteries is under active development.’
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N Brown Group PLC - Manchester-based clothing and footwear digital retailer - Says it has signed a partnership deal with J Sainsbury PLC for its Simply Be brand. Says Simply Be clothing is now available on Tu.co.uk, and will be in stores from late September. The clothing will be priced between £18 and £60. Says the deal reinforces its commitment to inclusivity and accessibility. ‘We believe in democratising fashion and understand the power of providing inclusive fashion that truly fits. Sainsbury’s was therefore a natural choice for Simply Be’s next partner, as our shared ethos of inclusivity and accessibility will serve the needs of a broad customer base,’ Chief Executive Sarah Walsh says.
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