Serra Verde (“Serra Verde”) is pleased to announce that it has been selected by the Brazilian National Development Bank (“BNDES”) and Brazil’s Innovation Agency (“Finep”) in the first stage of the Transformation of Strategic Minerals initiative. The BNDES and Finep partnership aims to promote investments to increase production, research and development as well as innovation in the processing of strategic minerals, such as rare earths.
Serra Verde will now work with BNDES and Finep to assess the most appropriate potential structure for future partnership which could include debt instruments, equity investments, non-reimbursable resources and economic subsidies.
Serra Verde’s CEO, Thras Moraitis, said:
“We are delighted to partner with BNDES and Finep to advance the downstream refinement of critical heavy rare earths in Brazil. Since entering production in 2024, the Serra Verde team has identified several innovations in rare earths production and processing, which we aim to advance through this partnership.
As the only scale producer outside of Asia of critical heavy rare earths, we are uniquely placed to increase Brazil’s contribution to the development of secure global critical minerals supply chains.”
