Pentagon Announces $750 Million Purchase of Rare-Earth Elements From Brazil Mine

The U.S. Department of War will pay $750 million for rare-earth minerals from Brazil’s Pela Ema mine, operated by the Serra Verde Group. This prepayment secures a buyer for the mine, which is uniquely positioned outside Asia to supply all four key magnetic rare-earth elements. These elements are crucial for a wide range of advanced technologies, including defense, aerospace, and renewable energy.

• 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.