On April 20, we announced to all our employees the signing of the definitive business combination agreement between Serra Verde and USA Rare Earth, creating a leading company in the global rare earth industry.
Today, our CEO, Thras Moraitis, and SVPM President, Ricardo Grossi, met with employees to celebrate this historic milestone together and reaffirm that this achievement belongs, above all, to every member of our team.
During the meeting, they highlighted the key milestones that brought us to this point: the first commercial ionic clay operation outside Asia, the US$565 million financing from the U.S. International Development Finance Corporation (DFC), and the 15-year offtake agreement with the United States Government—the first agreement in the world to establish minimum price commitments for key heavy rare earth elements.
This achievement has a name, a face, and a home: Minaçu, Goiás, Brazil.
We will continue moving forward with responsibility, innovation, and respect for the people who help write this story every single day.