MRG Metals (ASX: MRQ) has finalised its acquisition of Sheerartar Minerals, gaining full ownership of the Garies Rare Earth Project, a high-grade, magnet-rich rare earth asset in South Africa.
The acquisition, first announced on Dec. 23, 2025, significantly expands MRG’s critical minerals portfolio with exposure to a high-value mix of heavy and magnetic rare earths, including scandium and gallium.
Located in a Tier-1 mining jurisdiction and adjacent to the world-class Steenkampskraal Monazite Mine, the Garies Project demonstrates characteristics of a development-ready, high-margin rare earth system.
The transaction was structured as a scrip deal, with an initial issue of 75 million MRG ordinary shares upon completion and a further 175 million shares issuable following the granting of a mining licence.