Terra Mouraitis, CEO of the Brazilian rare earth miner Serra Verde, revealed that the company has significantly shortened the contract terms with Chinese processing enterprises. This move aims to prepare for a shift to Western markets after the completion of rare earth separation capacity in the West in the coming years. Previously, Serra Verde had signed a 10-year supply agreement with China, which has now been renegotiated. The new agreement is set to expire at the end of 2026, approximately eight years earlier than originally planned.
Serra Verde's Pela Ema mine, located in the state of 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 and currently has an annual production of 4,000–5,000 mt of rare earth oxides. It is expected to reach full production capacity of 6,500 mt per year by 2027. The company has planned a second-phase expansion, targeting a doubling of its capacity by 2030.
In 2025, the U.S. International Development Finance Corporation (DFC) approved a $465 million loan to Serra Verde for mine expansion and technological upgrades. This initiative not only provides financial support to Serra Verde but also serves as a strategic endorsement, signaling the company's inclusion into the Western "critical minerals security" framework.
