Oceana Metals Buys Brazilian Rare Earths Project and Raises $20m for Exploration

The latest announcement is out from Oceana Lithium Ltd. ( (AU:OCN) ).

Oceana Metals has agreed to acquire 100% of the Serra Negra rare earths and niobium project in Minas Gerais, Brazil, a large carbonatite-hosted system located near established niobium and REE operations and key infrastructure. Due diligence work, including pXRF screening and independent assays of historical drill core, confirmed wide zones of high-grade rare earth and niobium mineralisation and supports Serra Negra’s potential as a long-life, global-scale critical minerals asset.

The company is planning an accelerated, drilling-focused exploration program at Serra Negra, including re-assaying about 8,000 metres of historic core, district-scale geophysics, metallurgical test work and around 20,000 metres of new drilling to delineate an initial JORC resource. To fund the acquisition and exploration, Oceana raised $20 million via a two-tranche placement, advanced trenching and mapping at its Solonopole lithium project, began technical assessments of its Australian assets, and reshaped its board to align with a strategic pivot toward Brazilian rare earths.

More about Oceana Lithium Ltd.

Oceana Metals Limited is an ASX-listed exploration company focused on critical minerals, primarily rare earth elements and niobium, with a growing presence in Brazil and additional lithium and base metals projects in Australia. Its portfolio includes the Serra Negra rare earths and niobium project in Minas Gerais, the Solonopole lithium project in Brazil, and the Bangemall and Napperby projects in Western Australia and the Northern Territory, targeting demand from electrification and the energy transition.

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Technical Sentiment Signal: Buy

Current Market Cap: A$72.99M

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