Site visit report: Aclara’s Carina project shows progress towards Rare Earths supply diversification

Aclara Resources’ Carina project in Goiás, Brazil, is positioning itself as a key future supplier of heavy rare earth elements (HREEs) through an environmentally responsible approach to ionic clay extraction. Benchmark’s Rare Earths team recently visited the Carina site and nearby pilot processing plant to evaluate technical progress and supply potential.

“The site visit provided the Benchmark team with valuable insights into the Carina project’s technical progress, environmental approach, and its potential role in global heavy rare earth supply diversification,” said Neha Mukherjee, Research Manager (Rare Earths) at Benchmark.

The Benchmark team at the Carina project in Brazil

The Carina project is an ionic clay deposit with a basket composition of dysprosium/terbium (DyTb) and 28% praseodymium/neodymium (PrNd) within the total rare earth oxides. These elements are critical for high-performance permanent magnets powering electric vehicles, wind turbines, and other clean energy technologies.

“Aclara’s “circular mineral harvesting” method stands out for its minimal environmental footprint. Excavation occurs on-site, but processing—including ammonium sulfate-based ion exchange, purification, and water treatment—is done off-site. The clay is returned post-extraction, and no liquid residues or radioactive byproducts are produced. Compared to in-situ leaching used in China, Aclara uses ionic leaching off site,” Mukherjee added.

How is the project progressing?

The project is currently in the pre-construction phase, with site preparation underway, including completed roadworks and ongoing drilling for feasibility studies. A pilot processing plant in Goiânia is testing extraction processes for mixed rare earth carbonates (MREC), with first production targeted for 2028.

Benchmark Research Analyst (Rare Earths) Evelyn Zhou and Research Manager (Rare Earths) Neha Mukherjee at the pilot processing plant

Aclara has outlined a projected CAPEX of US$599 million. A Pre-Feasibility Study (PFS) is expected by Q3 2025, with a Final Investment Decision (FID) in Q2 2026. An Environmental Impact Assessment has been submitted, with approval anticipated by December 2025.

Owing to its potential to the region’s economy, Aclara has signed an Memorandum of Understanding with the State of Goiás and the Municipality of Nova Roma to accelerate permitting and foster regional development.

The company also plans to expand into rare earth separation and metals and alloys manufacturing, building a vertical supply chain with potential offtake partners.

Supply diversification

Given geopolitical risks and tightening Chinese export controls, projects like Carina are critical for mitigating future bottlenecks in heavy rare earth supply chains.

While Aclara’s forecast production of 240 tonnes per annum of DyTb by 2030 will meet just 7% of projected demand, its progress signals growing momentum in ex-China HREE development.

However, sustained incentive pricing and access to capital remain key challenges for the broader supply chain. Ex-China projects need a higher price environment to be profitable, Benchmark analysis shows.