Funding secured for mining and processing expansion.
Aclara Resources is planning multi-billion-dollar investments in the mining and processing of rare earths. According to Executive Vice President José Augusto Palma, speaking at a conference, the Canada-based company intends to allocate $600 million to its Carina Project in Brazil’s Goiás state, Reuters reports. The rare earth mine is expected to begin production in 2028 and is currently undergoing feasibility studies. Recently, Aclara secured financing from the U.S. International Development Finance Corporation, the U.S. government’s development finance institution, to support the advancement of the project (we reported).
In Chile, Aclara is pursuing a similar project, with investments projected at up to $170 million. Both deposits consist of ion-adsorption clays, from which rare earth elements can be extracted relatively easily. So far, such deposits have been exploited almost exclusively in China and Myanmar.
The remainder of Aclara’s planned investment will be directed toward building a processing facility and a metallization plant in the United States, the latter being a key step in producing permanent magnets. Here, key synergies could play out: last year, Aclara entered into a strategic partnership with Vacuumschmelze, a German magnet manufacturer that is currently constructing a magnet plant in South Carolina. Together, these initiatives could create an integrated rare earth supply chain stretching from South to North America, covering every step from mine to end product.
Photo: Tomas Griger via Canva, montage by rawmaterials.net