JOGMEC to Invest Up to $3 Million in Heavy Rare Earth Exploration with Aclara in Brazil

en.Wedoany.com Reported - Mining company Aclara Resources has announced the signing of a joint venture agreement with Japan Organization for Metals and Energy Security (JOGMEC) to jointly explore and advance the development of ion-adsorption clay-hosted heavy rare earth deposits in Brazil. The joint venture is structured as an unincorporated partnership and will operate through a subsidiary recently established by Aclara in Brazil; the Carina Project is not included in the joint venture and will remain 100% owned by Aclara.

Aclara's Chief Executive Officer, Ramón Barúa, stated that both organizations are long-term committed to building a resilient rare earth supply chain through reliable technologies and responsible resource development. The Aclara team has deep expertise in the exploration of ion-adsorption clay deposits, while JOGMEC brings decades of global mining exploration and project evaluation experience, and the combined efforts of both parties are better positioned to identify and advance high-quality rare earth development opportunities in Brazil.

Under the terms of the agreement, JOGMEC will provide up to $3 million in exploration funding over a three-year earn-in period. Subject to the satisfaction of certain conditions, the Japanese state-owned organization holds an option to invest an additional $1.5 million to extend the earn-in period by one year, and may also accelerate its funding schedule at its own discretion. Upon completion of its funding commitments, JOGMEC will be entitled to a 30% interest in a specific exploration project of Aclara in Brazil. After the earn-in period, subsequent funding for the joint venture project will be borne by both parties in proportion to their respective equity interests.

Upon completion of the earn-in period, JOGMEC may also purchase production volumes equivalent to its equity share, plus an additional 10% of the project's future production; under the joint venture terms, the organization may transfer these interests and related rights to one or more Japanese companies or consortia. During the earn-in period, Aclara will serve as operator, leveraging its exploration expertise and its experience in developing ion-adsorption clay-hosted rare earth deposits in South America.

JOGMEC is a Japanese government agency responsible for securing Japan's long-term supply security of strategically important natural resources and energy. For decades, the organization has collaborated with junior exploration companies, mining companies, and state-owned enterprises across multiple countries through government funding, technical expertise, geological collaboration, and risk-sharing investments to identify, evaluate, and advance strategic mining projects. As Japan seeks to diversify its supply of rare earth elements and other strategic minerals, JOGMEC continues to support exploration activities, resource development, and supply chain investments around the world, with its team of geologists, engineers, and technical experts experienced in mine site evaluation and the application of technical standards, fostering a stable and resilient supply of strategic minerals for advanced manufacturing, clean energy technologies, and national economic security.

Aclara's rare earth project portfolio includes its flagship Carina Project in the state of Goiás, Brazil, as well as the Penco Module in the Biobío Region of Chile. Both projects utilize Aclara's patented technology, Circular Mineral Harvesting, to extract rare earths from ion-adsorption clay deposits in a sustainable and energy-efficient manner. Through its subsidiary, Aclara Technologies Inc., the company is building a rare earth separation plant in the United States to enhance product value; the facility will process mixed rare earth carbonate from Aclara's mineral resource projects, separating it into pure individual rare earth oxides. In addition, Aclara's joint venture with CAP is advancing alloy manufacturing capabilities to convert refined oxides into alloys required for permanent magnet production, with CAP bringing extensive experience in metal refining and specialty ferroalloy steels.