A US rare earths company backed by the Trump administration is to acquire a Brazilian producer in a cash-and-stock deal worth $2.8bn that underscores Washington’s efforts to secure access to the coveted minerals.
USA Rare Earth on Monday announced an agreed takeover of Serra Verde, which operates a mine and processing plant in the central Brazilian state of Goiás.
The Oklahoma-based group said it planned to create a combined entity with activities across the supply chain of heavy and light rare earths, which play an important role in applications including magnets for electric vehicles, renewable energy and weapons systems.
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