Aclara Carina Project Feasibility Study

Aclara Resources announced the positive results of the feasibility study for its flagship Carina Project in Goiás, Brazil. The study projects an after-tax Net Present Value of US$1.7 billion and an Internal Rate of Return of 26.9% over an 18-year mine life, with initial capital costs of US$780.9 million. The project is expected to produce 4,378 tonnes of rare earth oxides annually, including significant amounts of Dysprosium and Terbium, which are critical heavy rare earth elements. Aclara Resources plans to begin early works by Q3 2026, with initial production targeted for H2 2028. The company also intends to build a rare earths separation facility in United States — Louisiana, United States, to process the Carina Project's output, aiming to establish an independent supply chain in the American continent. This move is particularly significant given China's recent export controls on heavy rare earth elements, which have led to substantial price increases in Europe. The United States — United States Agency for International Development has committed US$5 million in project development funding, further supporting the project's strategic importance.