{"id":138648,"title":"Harvest Minerals Shares Jump on Brazilian Rare Earths Acquisition","publisher":"Share Talk","author":"sharetalk","published":"2026-07-21T09:53:59+00:00","modified":"2026-07-21T09:55:40+00:00","canonical_url":"https://www.share-talk.com/harvest-minerals-shares-jump-on-brazilian-rare-earths-acquisition/","markdown_url":"https://www.share-talk.com/harvest-minerals-shares-jump-on-brazilian-rare-earths-acquisition.md","json_url":"https://www.share-talk.com/harvest-minerals-shares-jump-on-brazilian-rare-earths-acquisition.json","category":"Mining","categories":["Mining"],"tags":["BRAZIL","Brian McMaster","Harvest Minerals","HMI","Scanty Mineração Ltda","Union Star Metals","USM"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/07/Fv1kgW8XwAEW7Zg.jpg?fit=1200%2C627&quality=89&ssl=1","format":"news","language":"en-GB","content":"[Harvest Minerals (AIM: HMI)](https://www.investegate.co.uk/announcement/rns/harvest-minerals-limited-di---hmi/acquisition-of-brazilian-rare-earth-portfolio-/9679229) shares jumped 66% in early trading after the AIM-listed Brazilian fertiliser and mineral development company announced a binding agreement to acquire Scanty Mineração Ltda.\n\nScanty, currently a wholly owned subsidiary of Union Star Metals (ASX: USM), holds a portfolio of eight rare earth projects across 27 exploration tenements in Brazil.\n\nThe projects include Capão Bonito and Sguario, where the geology is considered prospective for ionic clay-hosted rare earth mineralisation.\n\nHarvest said the acquisition supports its expanded critical minerals strategy and builds on encouraging rare earth results from its 100%-owned Arapuá project in Brazil.\n\nPrevious work at Arapuá returned average Total Rare Earth Oxide concentrations ranging from 2,110.53 ppm to 2,656.99 ppm and confirmed rare earth mineralisation within the “Bone” lithotype.\n\nThe Scanty portfolio targets both ionic clay-hosted and hard rock rare earth mineralisation across the Cerro Azul, Capão Bonito, Itapeva, Sguario, Mucambo and Guaratinga project areas.\n\nThe projects are located within established mineral provinces, including the Poços de Caldas Alkaline Complex and the Bahia Rare Earth Province.\n\nThe consideration includes an initial A$200,000 cash payment and the issue of 40,000,000 new Harvest shares on completion.\n\nFurther milestone payments of up to A$300,000 may become payable, alongside the assumption of approximately A$1.5 million of deferred acquisition payments and associated 1.5% net smelter royalty obligations.\n\nThose deferred payments are conditional on Harvest defining an inferred mineral resource of at least 20 million tonnes at 1,000 ppm rare earth oxides within 36 months of completion, and completing a scoping study recommending a pre-feasibility study within 48 months.\n\nExecutive chairman Brian McMaster said the acquisition gives Harvest exposure to multiple high-quality rare earth assets while maintaining capital discipline.\n\nHe said Brazil’s rare earth sector is attracting strong investor interest because of its potential to deliver large-scale ionic clay deposits outside China.\n\nThe company noted that the assumption of certain deferred payment obligations constitutes a related party transaction, as Brian McMaster and Luis Azevedo were among the original vendors of Scanty.\n\nHarvest said its independent directors, having consulted with nominated adviser Strand Hanson, consider the terms fair and reasonable for shareholders."}