A string of disasters over the last 12 months has refocused the authorities on accident prevention.

The metal is poised not just as a material of historical significance but as a pivotal element in driving forward the next phase of economic and technological progress.

A feasibility study produced for the project was filed in March 2023 outlining a construction period of three years at a cost of $1.16 billion to develop a mine with a 10-year life.

Seriti plans to build infrastructure capable of providing 900 megawatts of green energy over the next few years.

Glencore previously owned around 24% of Russneft's share capital.

Coal deposits are known to be a potential source of REEs, and work is underway in the US and elsewhere to separate and concentrate REEs during coal processing

Risk aversion is likely to leave major Western miners lagging in a race to tap Africa's reserves of critical raw materials.

The financing represents the second of its kind carried out by Uranium Royalty over the past four months.