The move is part of the company's efforts to increase its footprint beyond beyond Burundi, where it runs the continent's only producing rare earths mine.
The Chilean producer continues to suffer from dire conditions affecting the market of the metal used in batteries that power electric vehicles and high tech electronics.
In total, the company has raised £11.5-million (about $15m) through a sale of new shares to investors, including Greenland Venture and Vaekstfonden, the Danish state’s investment fund.
