Are Brazil's critical minerals next in line for Trump's quest to commandeer resources?
USA Rare Earth, partly owned by the US government, acquired Serra Verde, Brazil's important producer of critical minerals. President Lula tried to block the deal but it was found compliant with Brazilian law; he then fast-tracked critical-minerals legislation that Congress approved on September 2. The Pentagon directed $750 million into a special purpose vehicle to fund USA Rare Earth, which holds a 15-year agreement for mixed rare earth carbonate from Serra Verde.
Why it matters: This matters for the critical minerals theme because the Pentagon's equity stake in Serra Verde shows US industrial policy extending into Latin American supply chains.