USA Rare Earth completes $2.8 billion acquisition of Brazil’s Serra Verde heavy rare-earth mine
The Map Moved · Friday, 11 September 2026
Why it matters
The deal shifts control of an operating heavy rare-earth asset from a Brazilian producer into a U.S.-led supply chain, adding potential non-Asian capacity for dysprosium and terbium. Combined with the Commerce funding, it gives the United States greater leverage over the mining and downstream magnet stages of a strategically important industrial input.
What happened
USA Rare Earth completed its $2.8 billion acquisition of Brazilian producer Serra Verde, taking control of the Pela Ema ionic-clay operation, which is targeting 6,400 tonnes per year of rare-earth oxides and direct dysprosium and terbium supply. The purchase expands USA Rare Earth’s mine-to-magnet chain and is supported by a 15-year offtake agreement and up to $1.6 billion in funding from the U.S. Department of Commerce; former Serra Verde CEO Thras Moraitis will become USA Rare Earth’s CEO on October 1.
Players & places
- Brazil
- USA Rare Earth
- Serra Verde
- U.S. Department of Commerce
- Thras Moraitis