Australian Mines will acquire the Jequie Rare Earth Project in Bahia and the Resende Lithium Project in Lithium Valley, Minas Gerais in Brazil, from RTB Geologia E Mineracao.
The Jequie Project, targeting rare earth/niobium, is adjacent to Brazilian Rare Earth. The Resende Project, located in the Sao Joao del Rey Pegmatite Province, is near AGM's Mibra mine.
The firm completed an equity placement, raising $2.5 million.
The company aims for a name change to EcoMetal Resources, reflecting its diversified portfolio in battery metals.