Harvest Minerals (AIM:HMI) has completed its acquisition of Scanty Mineração Ltda, adding a portfolio of eight ionic adsorption clay rare earth projects across Brazil.
The AIM-listed company, which also runs Brazilian fertiliser operations, first flagged the deal on 21 July.
Completion triggered payment of A$200,000 in cash plus 40 million new Harvest shares, taking the company's total issued share capital to 543.17 million shares. Further contingent consideration remains payable, as detailed in the July announcement.
The projects span São Paulo, Paraná, Minas Gerais and Bahia states, split into a Southeast Hub of five more advanced assets and a Northeast Hub of earlier-stage regional targets.
Capão Bonito, the lead asset, carries the most extensive technical work: 98 auger holes totalling roughly 1,477 metres drilled since 2024, alongside historical leach testwork confirming ionic adsorption clay behaviour.
Results from 386 pending samples at Capão Bonito, part of 821 samples across the Southeast Hub, are expected by the end of the current quarter and will guide the next drilling phase.
"Capão Bonito immediately stood out as the cornerstone of the portfolio," said Chairman Brian McMaster, pointing to the prior operator's drilling, metallurgy and geological interpretation work.
Harvest intends to design a follow-up drilling programme at Capão Bonito, subject to securing funding, aiming toward an initial mineral resource estimate over the next 12 months.