USA Rare Earth acquires Serra Verde

The acquisition of Brazil’s Serra Verde by USA Rare Earth represents a significant, though not immediately transformative, development in the heavy rare earth (HREE) supply chain. Announced on 20 April, the deal - alongside USA Rare Earth’s earlier acquisition of Less Common Metals (LCM) - highlights a broader push to establish an integrated, ex-China rare earth ecosystem. Serra Verde will also receive a price floor for four rare earths as part of a 15-year supply deal with the US government, the third such price floor in the industry after announcements by MP Materials and Lynas.