Aclara Resources secures $3 million funding from Japan's Jogmec for Brazil rare earth project
Japan Organization for Metals and Energy Security will fund exploration costs at a specific Brazilian clay mine, with potential future equity stakes.
Aclara Resources announced a joint venture agreement on September 8 with the Japan Organization for Metals and Energy Security (Jogmec) to explore and develop heavy rare earth deposits in Brazil. The partnership focuses on ion clay deposits rather than the Carina project in Goiás, which remains fully controlled by Aclara. Jogmec will finance all exploration expenses totaling up to $3 million over an initial three-year acquisition period. Under specific conditions, Jogmec could invest an additional $1.5 million, extending the term by one year. Once this funding is completed, Jogmec retains the option to acquire a 30% equity stake in one of Aclara's Brazilian exploration projects. The Japanese partner also secured rights to purchase production volumes equal to its share plus an extra 10% of future output. Ramón Barúa, CEO of Aclara, stated that the partnership is well-positioned to identify and develop high-quality rare earth opportunities in Brazil.
