Peak Rare Earths Limited is engaged in the exploration and development of mineral properties within Tanzania. The company is primarily focused on advancing its Ngualla Rare Earth Project, which is noted for its substantial deposits of neodymium and praseodymium oxides, critical elements for high-strength permanent magnets used in clean energy technologies. This project, situated in Tanzania, represents one of the world's most significant undeveloped rare earth resources, characterized by its high grade and projected long mine life. Peak Rare Earths was originally established in 2005 as Peak Resources Limited, changing to its current name in December 2021, and maintains its headquarters in Perth, Australia. Recently, Shenghe Resources (Singapore) Pte. Ltd. finalized its acquisition of Peak Rare Earths through a scheme of arrangement, leading to the company operating as a subsidiary as of late September 2025.