USA Rare Earth will acquire Brazilian rare earths miner Serra Verde for $2.8-billion in cash and shares, the two companies said on Monday.
The US company will pay $300-million in cash and 126.9-million newly issued shares of its stock for the transaction, which is expected to close in the third quarter of 2026, a statement said.
The Serra Verde project in Minaçu, Brazil, produces neodymium, praseodymium, dysprosium and terbium, which are essential for electric vehicle motors and wind turbines.
As a key, sustainable ionic clay deposit outside Asia, it began production in 2024 with a 25-year mine life and aims to reach 6 500 t/y of oxide production by 2027.