Australian Mines (ASX:AUZ) to acquire rare earth, lithium projects in Brazil

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.