Aclara Resources Inc (TSX:ARA, OTC:ARAAF) has signed a Memorandum of Understanding (MoU) with the State of Goiás and the Municipality of Nova Roma to fast track development at its Carina Module project.
The agreement aims to expedite the permitting process and advance the project’s execution, emphasizing its potential to bolster the socio-economic development of Nova Roma and the broader Goiás region.
Under the MoU, the State of Goiás and Nova Roma authorities will prioritize the evaluation of environmental and other necessary permits, support critical infrastructure development, and assist in workforce training.
Aclara, in turn, will invest $582.3 million in the project, with plans to create 3,200 direct jobs and prioritize local suppliers.
Aclara's CEO, Ramon Barua, highlighted the collaboration's significance in a statement on Friday.
“By harnessing our world-class Carina deposit, our unique technology to produce clean rare earths, and our strong focus on socio-economic growth, we are dedicated to supporting Nova Roma and Goiás State through significant job creation, local supplier development, employee training, among others,” Barua said.
“This memorandum of understanding highlights our shared responsibility to fostering the sustainable development of the local communities in the surrounding areas of the project.”
The Carina Module's mineralized area spans 1,400 hectares, with drilling results indicating high potential for Total Rare Earth Oxides (TREO) and rich concentrations of both heavy and light rare earth elements. Additionally, the Carina Module's metallurgy is well-suited for its ionic clays, with promising depth potential as the deposit remains open at depth.