USA Rare Earth to Acquire Brazil’s Serra Verde in $2.8 Billion Deal

CEO Barbara Humpton called Serra Verde ‘a one-of-a-kind asset and the only producer outside Asia capable of supplying all four magnetic rare earths at scale.’

Barbara Humpton, then-president and CEO of Siemens Corporation, speaks during a panel discussion at the Sydney Energy Forum in Sydney, Australia, on July 13, 2022. Jaimi Joy/Reuters

USA Rare Earth said on April 20 that it has agreed to acquire Brazil-based Serra Verde Group in a deal valued at approximately $2.8 billion, marking a significant move to expand production of rare earth elements outside Asia.

The Stillwater, Oklahoma-based company said it will purchase 100 percent of Serra Verde through a combination of $300 million in cash and 126.849 million shares of newly issued stock.