The US Department of War increased its commitment to Brazil’s Serra Verde mine from $500 million to $750 million, bringing total capitalization to $1.55 billion. This mine, the only commercial-scale producer of magnetic rare earth elements outside Asia, targets output of approximately 6,400 tonnes of total rare earth oxides per year by end of 2027. The 15-year offtake agreement sets price floors at $110/kg for neodymium-praseodymium, $575/kg for dysprosium, and $2,050/kg for terbium, with first deliveries expected in Q4 2026. USA Rare Earth announced in April 2026 the acquisition of Serra Verde for $2.8 billion, a deal cleared by Brazilian antitrust authority Cade on August 24.
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