Pentagon Announces $750 Million Purchase of Rare-Earth Elements From Brazil Mine
The agreement sets in motion USA Rare Earth's plan to buy Serra Verde Group and the Pela Ema mine in central Brazil.
TL;DR
- U.S. Department of War agrees to pay $750 million for rare-earth minerals from Brazil.
- The purchase is for the Pela Ema mine in Goiás, central Brazil, operated by the Serra Verde Group.
- The mine is the only commercial operation outside Asia capable of supplying neodymium, praseodymium, dysprosium, and terbium.
- These rare-earth elements are essential for technology, defense, aerospace, renewable energy, and medical applications.