The mining area is approved by Brazil’s Federal Mining Agency (Agência Nacional de Mineração) and includes four mineral concessions.
The Santa Luz property covers 8,000 hectares and has spodumene mineralization potential.
Serra said new mine sites containing pegmatites are close to infrastructure such as roads, electricity and water.
Serra President and CEO Patrick Donnelly said the acquisition of the assets is part of the company’s efforts to explore and develop metals needed for Brazil’s green economy.
Donnelly added: “The identification and application of these minerals was carried out by Serra’s exploration and reconnaissance team in Brazil, which has been scouting base and green metals opportunities in the country.
