White House-backed USA Rare Earth makes $3 billion acquisition into South America to combat Chinese dominance

USA Rare Earth, a Trump administration-backed startup, acquired Brazil's Pela Ema rare earths mine and processing facility from Serra Verde Group for nearly $3 billion, transforming into a major global player. The deal, funded with $565 million OPIC financing and a 15-year U.S. government offtake agreement, directly counters Chinese dominance in rare earths production and pricing.