TORONTO, ON / ACCESSWIRE / November 13, 2024 / Aclara Resources Inc. ("Aclara" or the "Company") (TSX:ARA) is pleased to announce that it is working with the U.S. Department of Commerce's International Trade Administration, through its SelectUSA program, to conduct a study aimed at identifying the optimal site for Aclara's planned separation facility in the United States (the "Location Study").
The SelectUSA program fosters business investment that supports economic development and job creation in the United States. To date, SelectUSA has facilitated over $250 billion in investments, creating or retaining more than 230,000 jobs across the country.
Location Study overview
The objective of the Location Study is to identify an optimal site for Aclara's Separation facility, with a focus on maximizing operational efficiency and minimizing both costs and project execution timeline. Key criteria under consideration includes: (i) financial and investment incentives; (ii) permitting and regulatory environment; (iii) commercial and fiscal landscape; (iv) industrial site readiness; (v) infrastructure and services; (vi) supply of key materials required for the process; (vii) climate suitability; (viii) qualified workforce; among others.
Aclara's Chief Financial Officer, François Motte, commented:
"We are very pleased to receive the support from the U.S. Government to find the location of our rare earth separation facility in the United States. Aclara believes that it can contribute towards securing a resilient and independent supply chain for rare earths, which are critical materials for electromobility and other key high-tech sectors of the U.S. economy."
For further details regarding the proposed separation facility, refer to the press release "Aclara Announces Update on its Rare Earths Separation Project", dated October 15, 2024.
About Acara
Aclara Resources Inc. (TSX:ARA) is a development-stage company that focuses on heavy rare earth mineral resources hosted in Ion-Adsorption Clay deposits. The Company's rare earth mineral resource development projects include the Penco Module in the Bio-Bio Region of Chile and the Carina Module in the State of Goiás, Brazil.
Aclara's rare earth extraction process offers several environmentally attractive features. Circular mineral harvesting does not involve blasting, crushing, or milling, and therefore does not generate tailings and eliminates the need for a tailing's storage facility. The extraction process developed by Aclara minimizes water consumption through high levels of water recirculation made possible by the inclusion of a water treatment facility within its patented process design. The ionic clay feedstock is amenable to leaching with a common fertilizer main reagent, ammonium sulfate. In addition to the development of the Penco Module and the Carina Module, the Company will continue to identify and evaluate opportunities to increase future production of heavy rare earths through greenfield exploration programs and the development of additional projects within the Company's current concessions in Brazil, Chile, and Peru.
Aclara has decided to vertically integrate its rare earths concentrate production towards the manufacturing of rare earths alloys. The Company has established a U.S.-based subsidiary, Aclara Technologies Inc., which will focus on developing technologies for rare earth separation, metals and alloys. Additionally, the Company is advancing its metals and alloys business through a joint venture with CAP S.A., leveraging CAP's extensive expertise in metal refining and special ferro-alloyed steels.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to the Company's corporate strategy; expectations as to activities conducted in connection with its separation project, operational efficiency, costs and project execution timeline , effect or outcomes resulting therefrom; the development of a separation facility and the related studies in relation thereto; the Company's vertical integration strategy; and plans as to expenditures, investments, and use of capital and financial resources in the near and long term. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's annual information form dated as of March 22, 2024, filed on the Company's SEDAR profile. Actual results and timing could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this news release is provided as of the date of this news release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Ramón Barúa Costa
Chief Executive Officer
investorrelations@aclara-re.com
SOURCE: Aclara Resources Inc.
View the original press release on accesswire.com
