USA Rare Earth offered US$2.8 billion in cash and stock for Serra Verde, which would mark one of the largest transactions in the rare earths industry to date.
(April 26): Left-wing Brazilian political party Rede Sustentabilidade asked the country’s Supreme Court to suspend the sale of mining company Serra Verde Group to USA Rare Earth Inc on national security grounds.
In a filing submitted on Friday, the party argued that Brazilian legislation doesn’t provide sufficient safeguards for the national interest as required by the Constitution in the exploitation of strategic mineral resources. The party said that no transaction should be carried out that could directly or indirectly transfer significant economic control over the country’s strategic mineral assets.
