In a significant move that strengthens Latin America's position in the global rare earths supply chain, Aclara Resources (TSX: ARA) has successfully raised $25 million through a private placement to fund its strategic Carina project in Brazil. The investment comes at a crucial time as the company prepares for key development milestones in 2025.
The private placement, priced at a notable 41% premium over recent market prices, brings together industry leaders including CAP SA, Hochschild Mining Holdings, and New Hartsdale Capital. This strategic alignment creates a powerful consortium with CAP SA securing 10.18%, Hochschild maintaining 19.65%, and New Hartsdale holding 36.9% of Aclara's share capital.
Eduardo Hochschild, Chairman of Aclara Resources, emphasized the strategic importance of welcoming CAP SA as a new shareholder, noting their "deep industry expertise" and potential role in establishing a sustainable rare earths supply chain. The partnership builds on CAP's existing commitment to Aclara's Chilean operations, where they previously announced an $80 million investment in the Penco module project.
The funding will primarily support the Carina project's advancement in Brazil's Goiás state, with key initiatives planned for 2025 including:
The Carina project currently holds significant potential with inferred resources of 298 million tonnes at 1,452 ppm TREO, representing 432,000 tonnes of total rare earth oxides. This development comes as Aclara continues to progress its Penco module in Chile, which hosts 63,000 tonnes of TREO in measured and indicated resources.
Ramon Barua, CEO of Aclara, views this financing as a crucial step toward becoming a reliable and sustainable producer of magnetic rare earths, addressing growing global demand for these critical materials. The company is also advancing its separation project in the United States, demonstrating its commitment to developing an integrated rare earths supply chain in the Americas.
Market response has been positive, with Aclara's stock rising 7.1% following the announcement, reflecting investor confidence in the company's strategic direction and execution capabilities.
