USA Rare Earth (NASDAQ: USAR)

USA Rare Earth trades on a single exchange: NASDAQ in the United States (USAR, US dollars). That is the line quoted on this page.

USA Rare Earth's primary listing is on NASDAQ in the United States, where it trades as USAR in US dollars — the line quoted on this page. It has no directly listed share on Brazil’s B3.

USA Rare Earth is listed on the NASDAQ under USAR, priced in US dollars. Any US brokerage offering NASDAQ-listed securities can trade it, with no foreign-account paperwork and no currency conversion.

USA Rare Earth’s Brazilian operations centre on the Pela Ema mine in the state of Goiás, which the company acquired through its purchase of the Serra Verde Group. The transaction was agreed in April 2026 and valued at approximately US$2.8 billion — US$2.5 billion in stock and US$300 million in cash — with legacy Serra Verde investors retaining a 34% equity stake in the combined company.

The acquisition paired a mine in commercial production since 2024 with USA Rare Earth’s own processing, separation, metallization and magnet-making capacity. The stated goal is an integrated “mine-to-magnet” rare earth value chain spanning the United States, the United Kingdom and Brazil.

In August 2026 a US government-backed special purpose vehicle was capitalised at US$1.55 billion to purchase 100% of the mine’s Phase 1 output for up to 15 years. The US Department of War committed US$750 million to the vehicle and signalled it would buy no less than US$300 million of rare earth products over five years; the remaining US$500 million came from a senior debt facility and other investors. The agreement also set price floors for dysprosium and terbium, which the company describes as the first arrangement of its kind in the industry.

Pela Ema, in the state of Goiás, operated through the Serra Verde business USA Rare Earth acquired. It is the only scaled producer of all four magnetic rare earth elements — neodymium, praseodymium, dysprosium and terbium — outside Asia.

What sets it apart is the geology. Pela Ema is an ionic clay deposit rich in both light and heavy rare earth elements, a combination that is exceptionally rare in the Western Hemisphere. Ionic clay sits near the surface and does not require the energy-intensive blasting, crushing and milling that hard-rock deposits do, and it avoids the radioactive tailings they leave behind. That contrasts with USA Rare Earth’s Round Top project in Texas, a rhyolite deposit needing extensive crushing and heap leaching. The site also draws on two hydroelectric plants located 25 km and 40 km away.

Commercial operations began in 2024. Phase 1 ramp-up is expected to conclude by mid-2027 and to reach full nominal capacity by the end of 2027, at roughly 6,400 tonnes of total rare earth oxides a year — about 12.5% of the 51,000 tonnes the United States produced in 2025. Phase 2 could double that, to the equivalent of around 25% of current US output; it had been projected to begin around 2030, though the company has indicated that US government urgency over rare earth supply could bring that forward.