Name of the Project
Carina rare earths project.

Location
Goiás, Brazil.

Project Owner/s
Rare earths exploration and development company Aclara Resources Inc.

Project Description
Aclara is the first company in the world to publish heavy rare-earth mineral reserves from ionic clays in accordance with NI 43-101 standards of disclosure for mineral projects. 

Average production of 4 265 t/y rare-earth oxides (REOs) is expected, contained in a mixed rare-earth carbonate (MREC) product, with very high contents of dysprosium (Dy) and terbium (Tb) of 4.1% and neodymium and praseodymium (NdPr) of 27.5%. 

Average yearly production of magnetic elements and other strategic heavy rare-earth elements (HREEs) contained in the MREC product include 149 t Dy, 25 t Tb and 1 170 t NdPr.

Total production over the mine’s 18-year mine life is estimated at 72 877 t total rare-earth oxides, 20 034 t NdPr, 2 536 t Dy and 436 t Tb.

Other strategic HREEs include 170 t samarium, 171 t gadolinium, 10 t lutetium and 1 098 t yttrium.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of $1.73-billion and an internal rate of return 21.8%, with a payback of 4.5 years.

Capital Expenditure
Total initial capital is estimated at $680.5-million, including a $132.2-million contingency.

Planned Start/End Date
Aclara plans to start early works on site by mid-2026 as part of the construction capital expenditure. These include camp construction, roads improvements and certain ancillary infrastructure to prepare the site for full fast-track construction in 2027.

Commissioning is expected to start in the second half of 2028, with initial production and ramp-up through 2029.

Aclara is evaluating the possibility of expediting the schedule to start initial production by mid-2028, depending on offtake agreements and access to financing.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Hatch Consultoria em Projetos, together with other engineering companies, including L&M Geociencias SpA, Promet 101 Consulting, Abelco Consulting SpA, LOM Consultoria em Mineração, F&Z Consultoria e Projetos, ERM Consultants Canada and Argus Media (PFS).

Contact Details for Project Information
Aclara Resources Inc, tel +56 2 2565 1033 or email investorrelations@aclara-re.com.