financetom
Business
financetom
/
Business
/
Aclara Resources aims to speed up start date for Brazil rare earths deposit
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Aclara Resources aims to speed up start date for Brazil rare earths deposit
Sep 13, 2024 8:50 PM

SANTIAGO, Sept 13 (Reuters) - Miner Aclara Resources

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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Crown Castle Files Mixed Shelf
Crown Castle Files Mixed Shelf
Mar 15, 2024
04:46 PM EDT, 03/15/2024 (MT Newswires) -- Crown Castle ( CCI ) filed a registration statement Friday for the potential sale of securities from time to time. The filing covers common stock, preferred stock, debt securities and warrants, according to the filing. The firm plans to use the net proceeds for general corporate purposes, repay debt, and potential acquisitions and...
Microsoft Reportedly Reintroduces Bing Popups Ads Into Google Chrome on Windows
Microsoft Reportedly Reintroduces Bing Popups Ads Into Google Chrome on Windows
Mar 15, 2024
04:44 PM EDT, 03/15/2024 (MT Newswires) -- Microsoft ( MSFT ) has reportedly reintroduced popups into Google's ( GOOG ) Chrome browser that advertise its search engine Bing, The Verge and Windows Latest reported Friday. The notification, which was paused amid concerns over malware, has begun showing up on Windows 10 and 11, according to the reports. Caitlin Roulston, director...
Hertz appoints Gil West as CEO
Hertz appoints Gil West as CEO
Mar 15, 2024
March 15 (Reuters) - Rental car firm Hertz said on Friday it has appointed Gil West as its chief executive officer. ...
Usa Compression Partners Insider Sold Shares Worth $631,162, According to a Recent SEC Filing
Usa Compression Partners Insider Sold Shares Worth $631,162, According to a Recent SEC Filing
Mar 15, 2024
04:48 PM EDT, 03/15/2024 (MT Newswires) -- Sean T Kimble, Vice President, Human Resources of USA Compression GP, on March 13, 2024, sold 22,918 shares in Usa Compression Partners ( USAC ) for $631,162. Following the Form 4 filing with the SEC, Kimble has control over a total of 50,000 shares of the company, with 50,000 shares held directly. SEC...
Copyright 2023-2026 - www.financetom.com All Rights Reserved