Aclara Resources aims to speed up start date for Brazil rare earths deposit
By Fabian Cambero
SANTIAGO, Sept 13 (Reuters) -Miner Aclara Resources ARA.TO plans to request a key environmental permit to develop a rare earths deposit in Brazil early next year with the aim of starting production in 2027, two years earlier than planned, the company said on Thursday.
The Brazil project, called Carina in the state of Goias, aims to eventually produce 191 metric tons a year of dysprosium and terbium, heavy rare earths that can be used for electric vehicle production.
If the project is successful, the output would amount to about 13% of China's 2023 output of those elements, according to CEO Ramon Barua.
He said the company, which is publicly traded on the Toronto Stock Exchange with offices in Chile and Brazil, is moving faster than anticipated in Brazil, where it originally planned production in 2029.
The company reached agreement with the state and local governments to speed up the permitting process.
"We plan to submit the environmental impact report at the start of next year," he said in an interview. "We think this is going to move very quickly."
If the approvals are granted within a year and a half as expected, production could begin as soon as 2027 or potentially 2028, he said.
Aclara is also seeking environmental approvals for a much smaller deposit in Chile known as Penco, a process also expected to take a year and a half.
Brazil holds the world's third-largest rare earth reserves and is attracting a number of early stage projects, as Western economies push to break China's dominance of the supply chain.
Reporting by Fabian Cambero, Writing by Daina Beth Solomon; Editing by Cynthia Osterman
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
