[SMM Flash: Serra Verde Shortens Rare Earth Supply Agreement with China] Brazilian rare earth miner Serra Verde has significantly shortened the contract term with Chinese processing enterprises, a move intended to create favorable conditions for smoothly shifting to Western markets after the completion of rare earth separation capacity in the West in the coming years. Previously, the company's supply agreement with China was set for 10 years; after renegotiation, the new agreement will expire at the end of 2026, approximately eight years earlier than originally planned. Serra Verde's Pela Ema Mine, located in Goiás, Brazil, is the largest rare earth mine in South America, renowned for its abundance of heavy rare earth elements such as dysprosium and terbium. The mine commenced commercial production in early 2024, with current annual production of 4,000–5,000 mt of rare earth oxides, and is expected to reach full production capacity of 6,500 mt per year by 2027. The company has planned a second-phase expansion project, aiming to double its capacity by 2030. In 2025, the U.S. International Development Finance Corporation (DFC) approved a $465 million loan to Serra Verde, which will be used for mine expansion and technological upgrades. This move not only provides financial support to Serra Verde but also serves as a strategic endorsement, indicating that the company has been incorporated into the Western "critical minerals security" system.