SYDNEY, Nov 2 (Reuters) - The East China Exploration and
Development Bureau (ECE), major shareholder in Australian
rare-earths firm Arafura Resources Ltd
Arafura said in a statement on Tuesday that ECE had declined to acquire shares at the placement price "to restore its pro-rated shareholding to pre-placement levels". ECE owned about 22 percent of Arafura before last week's A$90 million placement, according to the company. (Reporting by Mark Bendeich; Editing by Balazs Koranyi)