The project will be Australia's third rare earths processing plant after Lynas' Kalgoorlie operations and Iluka Resource's Eneabba heavy rare earths plant.
The hedge fund also recommended increasing dividends by discontinuing share buybacks and divesting a minority stake in Glencore's lucrative trading division.
The planned listing, although the exact exchange wasn’t named, would start in this year’s third quarter to join more than 40% of the world’s public mining companies on the Canadian stock market.