USA Rare Earth announced the acquisition of Brazilian mining company Serra Verde for $2.8 billion. Serra Verde extracts rare earth elements in Goiás and is the first such operation outside of Asia. The deal is expected to close in the third quarter.
Rare earth elements are chemical components essential for various technological applications, including electric car motors, wind turbines, and military equipment. China currently controls nearly 80% of global rare earth extraction and over 90% of supermagnet production, causing disruptions in global industrial supply chains by restricting exports in response to American tariff threats.
USA Rare Earth will pay $2.8 billion for Serra Verde, with $300 million in cash and the remainder in stock
Serra Verde operates in Goiás and is the only active rare earth mine in Brazil
Serra Verde received $565 million in financing from the U.S. government
Covered by only some sources, or where the accounts diverge.
Covered by only some sources (1)
Serra Verde reports employing 350 people, with 66% from Minaçu
No gaps declared — all sources converge on the material facts.