USA Rare Earth taps Serra Verde CEO after $2.8B deal

Cecilia Jamasmie | July 20, 2026 | 5:35 am Careers Critical Minerals Markets Latin America USA Rare Earth

Pela Ema rare earth mine in Brazil. (Image courtesy of Serra Verde.)

USA Rare Earth (Nasdaq: USAR) has appointed Serra Verde Group chief executive Thras Moraitis as its next CEO following the completion of the companies’ $2.8 billion merger.

Moraitis will assume the role on Oct. 1 after the cash-and-stock acquisition of Brazil-based Serra Verde is expected to close by the end of August, the company said Monday. He succeeds Barbara Humpton, who is retiring from the company and its board after less than a year as CEO.

USA Rare Earth also named current board chair Michael Blitzer executive chairman, effective immediately.

“Thras is the right leader to guide USA Rare Earth through its next phase of growth as we build a fully integrated rare earth platform outside China,” Blitzer said. “His operational expertise and proven track record at Serra Verde make him uniquely qualified to lead the combined company.”

Humpton joined USA Rare Earth last October after serving as CEO of Siemens USA. During her tenure, she helped secure public-private partnerships that expanded the company’s capabilities in rare earth processing, metals and magnet manufacturing.

Strategic growth

The leadership transition comes as USA Rare Earth pushes to build a mine-to-magnets supply chain at a time of heightened geopolitical tensions between the US and China over critical minerals.

Serra Verde’s operation in Brazil is one of the few mines outside China producing heavy rare earth elements at commercial scale and is expected to account for about half of global ex-China production next year.

Earlier this year, the company secured a $565 million financing package from the US International Development Finance Corporation to expand operations at its Pela Ema mine.

Moraitis has led Serra Verde since January 2023, overseeing the company’s transition into commercial production and positioning it as a key supplier of heavy rare earths outside Asia. Before joining Serra Verde, he co-founded X2 Resources and served on the executive committee of Xstrata under CEO Mick Davis before the miner’s sale to Glencore in 2013.