Aclara Resources and Jogmec partner to explore rare earths in Brazil

Canadian mining company Aclara Resources has entered into a joint venture agreement with the Japan Organization for Metals and Energy Security (Jogmec) to explore and develop heavy rare earth element deposits in Brazil. The partnership will focus on extracting minerals from ionic clays and will be managed through a new Aclara subsidiary in Brazil.

Under the terms of the agreement, Jogmec will initially fund up to US$3 million in exploration expenses over a three-year period. The Japanese agency may opt to invest an additional US$1.5 million to extend the exploration phase by one year. If specific financial commitments are met, Jogmec holds the option to acquire a 30% stake in one of the exploration projects, after which future development costs will be shared proportionally.

The agreement also includes provisions for Japan to secure mineral supplies, granting Jogmec the right to purchase a portion of the production equivalent to its stake, plus an additional 10% of the volume produced. This production right can be transferred to Japanese companies or consortia.

Aclara clarified that its Carina Project in Goiás, which is expected to begin operations in 2028, is excluded from this joint venture and will remain 100% owned by the Canadian company.