Harvest Minerals Acquires Brazilian Rare Earth Portfolio in Major Deal

Harvest Minerals signed a binding agreement to acquire Scanty Mineração Ltda, a Brazilian fertiliser and mineral developer that holds eight rare‑earth projects across 27 exploration tenements in Brazil. The transaction provides Harvest with access to sites in the Poços de Caldas Alkaline Complex and the Bahia Rare Earth Province, expanding its critical‑minerals portfolio.

Consideration includes an initial A$200,000 cash payment and the issue of 40 million new Harvest shares, with up to A$300,000 in milestone payments tied to demonstrating a minimum 20 million‑ton resource at 1,000 ppm rare‑earth oxide and completing a scoping study within set timeframes. The deal also assumes about A$1.5 million of deferred acquisition payments and a 1.5% net smelter royalty.

Following the announcement, Harvest Minerals shares jumped roughly 66% in early trading. Executive chairman Brian McMaster said the acquisition strengthens the company’s exposure to high‑quality rare‑earth assets and supports its capital‑disciplined growth strategy, while highlighting growing investor interest in Brazil’s rare‑earth sector as a source of supply outside China.