AREQUIPA, Sept 23 (Reuters) - Miner Aclara Resources

expects to spend around $1.3 billion in South America rare earth

mines and U.S. processing plants, Executive Vice President Jose

Augusto Palma said on Tuesday.

The Toronto-listed company's latest investment plan includes

$150 million to $170 million for a mine in Chile, $600 million

for a mine in Brazil, $300 million to $400 million for a

separation plant, and $400 for a metallization facility, Palma

said.

Speaking on the sidelines of a mining industry

conference, Palma said both the Brazilian and Chilean projects

aim to complete the feasibility phase by mid-2026, putting them

on track for construction the same year and ahead of a 2028

target to start operations.

Earlier this month, Aclara said the U.S. International

Development Finance Corporation committed up to $5 million to

fund a feasibility study for the Brazil project.

Rare earths are used to make magnets for a range of

uses, including weapons and consumer electronics.