Shenghe Resources unit to acquire new shares in Australia's Vital Metals

(Reuters) - China-based Shenghe Resources said on Monday its unit's Singapore firm signed an agreement to acquire new shares in Australia-based rare-earth miner Vital Metals for about A$14.8 million ($9.34 million).

Vital Metals did not immediately respond to a Reuters' request for comment.

($1 = 1.5843 Australian dollars)

(Reporting by Himanshi Akhand in Bengaluru; Editing by Subhranshu Sahu)