Mineria Activa, through its private equity fund FIP Lantanidos, has invested an additional USD2 million into BioLantanidos.
FIP Lantanidos holds 100 per cent of controlling shares of BioLantanidos, which has a high grade REE ion clay deposit rich in rare earths used to build permanent magnets that are increasingly in demand for the electric vehicles and clean energy industries.
The use of funds is to support BioLantanidos through 2019 while going through permitting and finishing the Definitive Feasibility Study.
