Serra Verde

What Serra Verde does

Serra Verde Group operates an integrated rare earth element (REE) mining and processing business anchored by the Pela Ema ionic-clay deposit in Minaçu, Goiás State, Brazil, with corporate management based in Zug, Switzerland via SV Management Switzerland AG and operations conducted through principal subsidiary Serra Verde Pesquisa e Mineração Ltda. (SVPM). The Pela Ema deposit is the largest known ionic-clay REE operation outside Asia and produces a Mixed Rare Earth Concentrate (MREC) / Mixed Rare Earth Carbonate containing all four critical magnetic REEs — Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy) — in a single concentrate. Extraction uses low-impact open-pit methods and simple processing technologies with no crushing, milling, acid leaching, hazardous chemicals or wet tailings, and Phase I operations are powered by more than 90% renewable grid electricity. Phase I commenced commercial production in January 2024, targets 6,400-6,500 tonnes of Total Rare Earth Oxide (TREO) per annum by end of 2027 over a 25-year mine life, and a Phase II expansion under assessment could double run-of-mine production before 2030.

Serra Verde monetises its output almost exclusively through long-term contracted offtake arrangements to magnet and processing customers. Prior to the April 2026 USA Rare Earth combination, off-take agreements had been secured with established processing companies for a large proportion of planned production; following the combination, 100% of Phase I production is committed under an industry-first 15-year offtake with a US Government-backed Special Purpose Vehicle at guaranteed floor prices for dysprosium and terbium plus upside sharing. Customer segments are downstream permanent-magnet manufacturers serving EVs and wind turbines, defence / aerospace / nuclear end-users requiring heavy rare earths, and rare-earth processing and separation companies. The business is privately held, with Denham Capital remaining the largest investor and controlling shareholder alongside Vision Blue Resources and The Energy & Minerals Group, and was awarded a US$565 million financing package from the US International Development Finance Corporation in February 2026 that includes an embedded US Government minority equity option.

The company's strategic positioning is defined by Western critical-mineral security policy: Serra Verde is the only large-scale producer outside Asia of all four critical magnetic REEs, was added to the 14-nation Minerals Security Partnership project list in October 2024, and is at the centre of an April 2026 ~US$2.8 billion combination with USA Rare Earth intended to create a fully integrated mine-to-magnet platform spanning Brazil, the US, France and the UK. Capital intensity is high (Phase I fully funded through DFC and equity), the offtake structure is unusually concentrated on a single sovereign-backed buyer, and the asset base is long-life with significant Phase II optionality. Risks include a pending legal challenge at Brazil's Supreme Court by Rede Sustentabilidade against the USAR sale, single-buyer concentration post-combination, and execution risk on the Phase I ramp to 6,500 tpa TREO by end of 2027.

Name

Serra Verde

Legal name

SV Management Switzerland AG (website operator); Serra Verde Pesquisa e Mineração Ltda. (Brazilian operating subsidiary)

Website

https://serraverde.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

251–500 employees

Short description

Serra Verde Group operates the Pela Ema ionic-clay rare earth mine in Goiás, Brazil — the only large-scale producer outside Asia of all four critical magnetic REEs (Nd, Pr, Tb, Dy) — selling Mixed Rare Earth Concentrate under long-term offtake to permanent-magnet, defence and processing customers, with output fully contracted to a US Government-backed SPV.

Ownership category

akta.pro rank

Product category

Rare Earth Mining and Processing

NAICS

Other Nonmetallic Mineral Mining and Quarrying (212390)

SIC

Miscellaneous Metal Ores (1090), Secondary Smelting & Refining Of Nonferrous Metals (3341)

akta.pro primary industry

Rare Earths Mining & Concentrates (REE Ores) (IMAKAFAG)

akta.pro secondary industry

Physical Separation (Gravity, Magnetic & Electrostatic) (IMAKALAC)

Keywords

• Rare earth mining
• Rare earth processing
• Critical minerals production
• Ionic clay extraction
• Magnetic rare earth elements

Headquarters

HQ city

Goiás

HQ country

Brazil

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. MREC (Mixed Rare Earth Carbonate) sales: Primary revenue stream: sale of Mixed Rare Earth Carbonate produced from the Pela Ema deposit to magnet and processing companies. Off-take agreements established for a large proportion of planned Phase I production. Became revenue-generating upon commercial production commencement in early 2024.
2. Long-term contracted offtake with US Government-backed SPV: Following the April 2026 USAR combination announcement, 100% of Serra Verde's Phase I production is committed under a 15-year offtake agreement with a US Government-backed Special Purpose Vehicle, with industry-first guaranteed floor prices for dysprosium and terbium plus upside sharing.
3. Expansion production (Phase II) sales: Future revenue from a Phase II expansion that could double run-of-mine production before the end of the decade (2030). Optimization of Phase I underway with target of 6,400-6,500 tonnes TREO annually by end of 2027.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Serra Verde operates an integrated ionic-clay rare earth element (REE) mining and processing operation at its Pela Ema deposit in Minaçu, Goiás State, Brazil. The company extracts and processes rare earth ore to produce Mixed Rare Earth Concentrate (MREC) containing the four critical magnetic rare earths — Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy) — which it sells via long-term offtake agreements to downstream magnet and processing customers globally.

Product overview

Serra Verde Group operates a single integrated rare earth element (REE) mining and processing platform anchored by its wholly owned Pela Ema ionic clay deposit in Minaçu, Goiás State, Brazil. The core operation produces and sells a Mixed Rare Earth Concentrate (MREC) / Mixed Rare Earth Carbonate containing four critical magnetic REEs — Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy) — making Serra Verde the only large-scale producer outside Asia of all four critical magnetic rare earths. Phase I commenced commercial production in early 2024 and targets 6,400 tonnes of Total Rare Earth Oxide (TREO) per year by end of 2027 over a 25-year mine life, with a potential Phase II expansion that could double run-of-mine production before 2030. Following the April 2026 agreed combination with USA Rare Earth (USAR), Serra Verde will form part of a multinational mine-to-magnet rare earths leader with eight operations across Brazil, the US, France and the UK, spanning mining, processing, separation, metallization and magnet making.

Differentiator

Problem solved

Functional benefit

Products and services

• Pela Ema Mine and Processing Operation Integrated open-pit ionic-clay rare earth mining and processing operation in Minaçu, Goiás State, Brazil, producing Mixed Rare Earth Concentrate containing all four critical magnetic REEs (Nd, Pr, Tb, Dy). Operated through wholly-owned subsidiary Serra Verde Pesquisa e Mineração Ltda. (SVPM) and supplied with over 90% renewable grid electricity.
• Mixed Rare Earth Concentrate (MREC) Intermediate processed rare earth product containing Neodymium, Praseodymium, Terbium and Dysprosium, sold to magnet manufacturers and rare earth processing/separation companies globally under long-term offtake agreements. Became the primary revenue-generating product upon commercial production start in early 2024.

Quantifiable outcome

• ~6,400-6,500 tonnes TREO/year production target by end of 2027 (over 25-year mine life)
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered flagship, minor and core.

• USA Rare Earth, Inc. (USAR)flagshipStrategic or Co-development PartnerDefinitive agreement announced 20 April 2026 to combine with USA Rare Earth in a ~US$2.8 billion cash-and-stock transaction ($300 million cash plus 126.849 million USAR shares), expected to close Q3 2026. Creates a fully integrated mine-to-magnet rare earth platform spanning Brazil, US, France and UK. Includes a 15-year offtake with a US Government-backed SPV at industry-first guaranteed floor prices for dysprosium and terbium.
• Brazilian Development Bank (BNDES) and Innovation Agency (Finep)minorStrategic or Co-development PartnerSelected by BNDES-Finep in June 2025 in the first stage of the Transformation of Strategic Minerals initiative to assess the most appropriate potential partnership structure (debt, equity, non-reimbursable resources, or economic subsidies) for advancing downstream refinement of critical heavy rare earths in Brazil.
• Minerals Security Partnership (MSP)minorOthersAdded to the MSP's list of projects of critical importance to the global energy transition in October 2024. The MSP is a collaboration of 14 partner countries plus the EU (currently chaired by the Republic of Korea) that facilitates targeted financial and diplomatic support for strategic projects along the value chain.
• Morgan Stanley & Co. LLCminorImplementation/ SI/ Consulting PartnerActed as exclusive financial advisor to Serra Verde and Denham in the January 2023 US$150 million investment round led by EMG and VBR.
• Sidley Austin LLPminorImplementation/ SI/ Consulting PartnerActed as the principal legal advisor to Serra Verde and Denham in the January 2023 US$150 million investment round led by EMG and VBR.
• Shearman & Sterling LLPminorImplementation/ SI/ Consulting PartnerActed as the principal legal advisor to EMG and VBR in the January 2023 US$150 million investment round.
• White & Case LLPcoreImplementation/ SI/ Consulting PartnerAdvised Serra Verde Group on the approximately US$2.8 billion combination with USA Rare Earth (announced April 2026) and previously advised Serra Verde on the US$565 million DFC financing deal.
• Aura FinancialminorOthersCorporate communications and IR contact for Serra Verde Group, providing media relations, press release distribution and investor relations support (London-based).

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• MP Materials: Operator of the Mountain Pass mine in California — the largest rare earth mining and processing operation in the Western Hemisphere, producing a rare earth concentrate including NdPr. Directly comparable to Serra Verde as a non-Chinese source of magnetic rare earths serving US-aligned supply chains.
• Lynas Rare Earths: Australian-headquartered miner and the largest non-Chinese producer of separated rare earth materials, operating the Mt Weld mine and Kalgoorlie processing facility. Comparable to Serra Verde as a vertically-integrated, non-Asian rare earth producer serving global magnet and defense customers.
• USA Rare Earth: Pending acquirer of Serra Verde (US$2.8B combination announced April 2026), developing the Round Top heavy rare earth project in Texas and downstream magnet manufacturing capabilities. Directly comparable as a US-aligned rare earth mine-to-magnet platform.

Broad incumbents

• Iluka Resources: Australian diversified miner with a major rare earth refinery project at Eneabba. Comparable to Serra Verde as a non-Chinese rare earth processor targeting the same NdPr/Dy/Tb customer base, though Iluka is a broader mineral sands incumbent.
• Neo Performance Materials: Global rare earth permanent magnet and rare earth materials producer with operations in Europe, Asia and North America. Comparable to Serra Verde as a downstream customer and competitor in the rare earth value chain serving EV and industrial magnet markets.

Emerging players

• Energy Fuels: US uranium and rare earth processor that has built out rare earth separation capabilities at its White Mesa mill in Utah. Comparable to Serra Verde as a Western rare earth processor serving NdPr and heavy rare earth separation demand.
• Pensana plc: UK-listed developer of the Longonjo rare earth project in Angola and the Saltend processing hub in the UK. Comparable to Serra Verde as an emerging non-Chinese producer of magnetic rare earths targeting the same Western OEM and EV supply chains.
• Rainbow Rare Earths: UK-listed miner developing the Phalaborwa rare earth project in South Africa as a non-Chinese source of magnetic REEs. Comparable to Serra Verde as an emerging ionic-adsorption clay-style or alternative-source rare earth developer targeting Western demand.
• Mkango Resources: Canadian-listed developer of the Songwe Hill rare earth project in Malawi with downstream separation plans in the UK and Germany. Comparable to Serra Verde as an emerging non-Chinese rare earth developer addressing the same critical mineral security theme.
• Peak Resources: Australian-listed developer of the Ngualla rare earth project in Tanzania, one of the largest undeveloped rare earth deposits outside China. Comparable to Serra Verde as a long-life, non-Asian source of magnetic REEs at an earlier stage of development.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SerraVerdeGroup
• LinkedInlinkedin.com/company/mineracaoserraverde

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries1 record

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Serra Verde