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Tanzanian CompComm delays Ngualla BFS funding

Tanzania’s Fair Competition Commission (FCC) has delayed ASX-listed rare earths hopeful Peak Resources’ approval for funding from the Appian Natural Resources’ Fund and International Finance Corporation, for the corporation’s Stage 2 investment into Peak’s majority-owned associated company Peak African Minerals. This would delay the availability of about A3.1-million of funding needed for the completion of a bankable feasibility study (BFS) for the Tanzania-based Ngualla rare earth project.