Aclara Resources Inc. has entered into a joint venture agreement with the Japan Organization for Metals and Energy Security to jointly explore and advance ionic clay-hosted heavy rare earth deposits in Brazil.

Under the terms of the agreement, JOGMEC will solely fund up to US$3.0 million of exploration expenditures over a three-year earn-in period. Subject to certain conditions, JOGMEC may elect to contribute an additional US$1.5 million, which would extend the earn-in period by one year. Upon satisfying its funding commitments, JOGMEC holds the option to acquire a 30% participating interest in the project.

Following completion of the earn-in, all further project funding will be contributed by the partners on a pro-rata basis. JOGMEC will also secure the right to purchase production equivalent to its participating interest, plus an additional 10% of future output, on arm's-length commercial terms. Aclara will act as the project operator during the earn-in period, utilizing its proprietary exploration expertise.

“This joint venture brings together two organizations that share a long-term commitment to building resilient rare earth supply chains through technical excellence and responsible resource development. By combining the deep exploration experience of Aclara’s team in ionic clay deposits with JOGMEC’s decades of global expertise in mineral exploration and project evaluation, the partnership is uniquely positioned to identify and advance new high-quality rare earth opportunities in Brazil. Just as importantly, JOGMEC’s decision to enter this joint venture follows an extensive technical review of Aclara’s exploration portfolio, providing independent validation of the quality and potential of the Company’s assets. The agreement also creates a natural pathway for future Japanese offtake through JOGMEC’s priority rights, aligning exploration success with one of the world’s most strategic rare earth markets. As new discoveries are made, they have the potential to strengthen the resource base that supports Aclara’s vertically integrated rare earth supply chain, underpinning the Company’s vision of delivering a reliable, sustainable, and geopolitically diversified source of critical materials.”

— Ramón Barúa, Chief Executive Officer

The agreement excludes Aclara’s flagship Carina Project, which will remain outside the joint venture and continue to be 100% owned by the company. Aclara's wider development strategy focuses on supplying mixed rare earth carbonates from its assets in Brazil and Chile to a planned U.S. separation facility. That U.S. plant, designated Project Dynamo, is scheduled to be construction-ready by the end of 2026.

Read the full announcement: Aclara Partners With JOGMEC For Heavy Rare Earth-Ionic Clay Exploration In Brazil