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.”
Contacts:
Aura Financial
Email: serraverde@aura-financial.com
Tel: +442073210000
Andy Mills
About Serra Verde
Serra Verde’s Pela Ema operation benefits from a large, long-life deposit containing an elevated proportion of high value heavy and light REEs, primarily neodymium (Nd), praseodymium (Pr), terbium (Tb) and dysprosium (Dy) that are key to the energy transition.
Serra Verde is the first scale operation outside Asia to produce all four critical magnetic REEs essential to the manufacture of permanent magnets used in electric vehicle motors and wind turbine generators. This makes Pela Ema a strategic asset within the emergent global magnet-producing value chains. Commercial production commenced in early 2024 and the operation is currently ramping up and undertaking plant optimisation.
The operation is located in an established mining area with access to a skilled workforce and close to existing transport, power, water and other infrastructure.
Serra Verde is the largest ionic-clay REE operation outside of Asia. Ionic clays can be mined with low-cost open mining techniques and processed using simple technologies with no hazardous chemicals, crushing, milling, or acid leaching. As a result, our environmental impacts are lower than at other rare earth operations. Furthermore, the operation has access to grid electricity with a high proportion of renewables.
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Forward-Looking Statements
This release contains forward-looking statements. Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects," "believes," "intends," "anticipates," "plans," "estimates," "forecast," "guidance," "potential," "possible," or "probable" or statements that certain actions, events or results "may," "will," "should," or "could" be taken, occur or be achieved. The forward-looking statements include statements about the completion of construction of Phase I of the Pela Emma deposit, expected benefits of REEs, production, financial position and business strategy.
Forward-looking statements are based on current expectations and assumptions and analyses made by Serra Verde and its management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties, including but not limited to the ability to complete construction of Phase I of the Pela Ema deposit on time and within budget, the success of production and the market for and prices of REEs. Serra Verde undertakes no obligation to revise or update publicly any forward-looking statements except as required by law.