Magnum Secures Key Brazilian Rare Earth Holdings

Magnum Mining and Exploration Limited (AU:MGU) has released an update.

Magnum Mining & Exploration Limited has secured a major landholding in Brazil by acquiring Palmares Estudos Geologicos, which holds significant exploration licenses for rare earth elements in the Azimuth and Palmares Projects. This strategic acquisition covers approximately 1,549 km² in the states of Minas Gerais, Goiás, and Bahia, positioning Magnum amidst a competitive landscape of rare earth exploration. The move is seen as a significant step in the burgeoning rare earth elements sector, crucial for advancing green technologies.

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