USA Rare Earth has completed its combination with Serra Verde Group, bringing together Serra Verde’s heavy rare-earth mining and processing operation in Goiás, Brazil, with USA Rare Earth’s processing, metallization and permanent-magnet capabilities. The transaction creates one of the few fully integrated rare-earth and permanent-magnet platforms outside Asia. Serra Verde is the only scaled producer outside Asia of all four magnetic and other critical heavy rare-earth elements, with production beginning in January 2024. Its first stage is expected to reach approximately 4,000 tons per annum of total rare-earth oxide production by the end of 2026, while a second expansion stage under construction targets 6,400 tons per annum. USA Rare Earth shares were up 5.31% at $18.63 at publication. Thras Moraitis, formerly Serra Verde’s CEO, has been appointed President of USA Rare Earth and will join its Board of Directors. Barbara Humpton will retire as USA Rare Earth’s CEO on October 1, when Moraitis will succeed her in leading the combined company. Sir Mick Davis, Serra Verde’s Chairman and former CEO of Xstrata plc, will also join the board. The completed transaction follows USA Rare Earth’s $2.8 billion acquisition announcement in April 2026. The broader project has government-backed financing, including a $565 million DFC loan and a combined $1.55 billion commitment from the Department of War and Defense Logistics Agency. Brazil holds approximately 21 million metric tons of rare-earth reserves, while China controls roughly 60% to 70% of mining and about 90% of downstream processing.