The U.S. International Development Finance Corporation (DFC) signed an agreement in February for a $565 million loan to SVRE Holdings Ltd. to expand Brazil’s Pela Ema mine as Washington seeks to diversify critical-mineral supply chains.
In the Democratic Republic of the Congo, DFC’s railway proposal remains preliminary. DFC issued a letter of interest on Dec. 5, 2025, for a project involving rehabilitation, operation and transfer of the Dilolo–Sakania line. After a full review, the project could seek up to $1 billion in financing; the announcement was not final approval. Separately, state-owned Gécamines said Jan. 12 it had exercised its right to buy 100,000 metric tons of copper from Tenke Fungurume’s 2026 production for the U.S. market. The company said that amount represented 20% of the mine’s production. The U.S. Geological Survey (USGS) estimates Congo produced 75% of global cobalt output in 2024.
Kazakhstan’s investment agency, KAZAKH INVEST, lists a planned $1.1 billion tungsten development at Northern Katpar and Upper Kairakty. Cove Kaz Capital Group, part of U.S.-based Cove Capital, is slated to hold 70%, with state mining company Tau-Ken Samruk holding 30%. Northern Katpar is scheduled to begin mining in 2030, with average annual output projected at 5,000 metric tons of tungsten trioxide. A definitive feasibility study for Northern Katpar is due by the end of 2027. DFC says its letters of interest explore up to $700 million in debt and project-development funding for Cove Kaz Capital Group’s investment in the Severniy Katpar Tungsten Mine. The letters are not final financing commitments.
Brazil’s National Mining Agency (ANM) reported that the country produced 326 metric tons of rare-earth-oxide concentrate in 2025. Exports of the concentrate totaled $14.9 million, while imports of processed rare-earth products, including oxides and magnets, were $30.6 million. The Ministry of Mines and Energy (MME) said Serra Verde produces rare-earth carbonate and attributed plans to expand processing and advance separation in Brazil to the company. USA Rare Earth’s filing with the U.S. Securities and Exchange Commission (SEC) says it completed its combination with Serra Verde on Sept. 3. Brazil’s competition authority (CADE) said a Serra Verde supply agreement covered all Phase 1 production for 15 years and included minimum prices for magnetic rare earths. CADE said its investigation did not by itself establish competitive harm.
An August investigation by The Associated Press and Reporter Brasil found that at least 25% of Brazil’s rare-earth mining applications were in or within 10 kilometers of protected areas and Indigenous territories. The finding concerned exploration applications generally and did not identify Serra Verde specifically. The World Bank Group said Oct. 16 it aims to provide $19 billion in metals and minerals support over fiscal 2026-30, a fivefold increase. The target combines the group’s financing with private capital mobilization; Kazakhstan was among eight countries launching compacts to support reforms, infrastructure, workforce development and local supply chains. Northern Katpar’s feasibility study is due by the end of 2027.
