Malaysian Sultan Purchases 2.25% Stake in Singapore-Listed Miner Expanding into Rare Earths

Sultan Ibrahim Iskandar of Malaysia purchased a 2.25% stake in Singapore-listed Southern Alliance Mining (SAM) for S$6.1 million, offering S$0.425 per share - roughly an 11.84% premium to the previous closing price. The transaction was conducted off-market with Pek Kok Sam, SAM’s managing director and controlling shareholder, and does not involve any change in the firm’s controlling ownership or its board composition. SAM, traditionally an iron-ore producer, is expanding into the rare-earth market, already holding a 40% share in MCRE Resources, which runs Malaysia’s pioneering rare-earth mine in Perak.

The company also intends to acquire Paramount Synergy, a player in a Johor-based rare-earth project. The royal purchase underscores growing interest from high-profile investors in the strategic minerals sector as Malaysia seeks to develop its rare-earth capabilities.