USA Rare Earth to Buy Brazil's Serra Verde for $2.8 Billion

USA Rare Earth has agreed to acquire Brazilian miner Serra Verde in a $2.8 billion deal. The acquisition aims to strengthen Western supplies of rare earth elements. The deal extends USA Rare Earth's recent takeover spree. Separately, Rio Tinto reported higher first-quarter iron ore output from its Pilbara operations and is working to meet U.S. aluminum demand amid supply chain disruptions from a Middle East war.