Harvest Minerals to Acquire Rare Earth Portfolio in Brazil

05:59 AM EDT, 07/21/2026 (MT Newswires) -- London-listed fertilizer producer and mineral development company Harvest Minerals (HMI.L) agreed to buy Union Star Metals unit Scanty Mineração, adding eight rare earth projects across Brazil. The consideration includes an initial cash payment of AU$200,000 and 40 million new Harvest shares. Harvest may pay a further AU$300,000 upon reaching development milestones and will assume AU$1.5 million of contingent acquisition payments and related royalty obligations. The portfolio includes the Capão Bonito and Sguario projects, where preliminary fieldwork has identified anomalous rare earth mineralization. Completion remains subject to customary conditions, including Brazilian regulatory approval.