Brazilian Political Party Seeks to Block Sale of Serra Verde to USA Rare Earth on Security Grounds
The Brazilian political party Rede Sustentabilidade has filed a request with the country's Supreme Court to halt the sale of the mining company Serra Verde Group to USA Rare Earth Inc. The party argues that the transaction, valued at $2.8 billion in cash and stock, poses a national security risk. They claim that Brazilian legislation does not adequately protect the national interest in the exploitation of strategic mineral resources, as mandated by the Constitution. The sale would transfer significant economic control over Brazil's strategic mineral assets to a foreign entity. Serra Verde's operations in Goiás are currently being upgraded, with production expected to increase from 100 metric tonnes to 6,400 tonnes of rare earth oxides annually by the end of next year. Neither Serra Verde nor USA Rare Earth has commented on the matter. 
