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Shenghe Resources to buy 19.9% of Australia's Peak Rare Earths

BEIJING, Feb 11 (Reuters) - China’s Shenghe Resources Holding Co plans to buy a 19.9% stake in Australian company Peak Rare Earths for about A$39.25 million ($27.99 million).

Shenghe Resources aims to buy the stake from Appian Pinnacle Hold Co at A$0.99 per share, it said in a filing to the Shanghai Stock Exchange, acquiring the shares through its Singapore business. ($1 = 1.4023 Australian dollars) (Reporting by Min Zhang in Beijing and Twinnie Siu in Hong Kong Editing by David Goodman )

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