Aclara Resources CEO and Director Ramón Barúa joined Proactive's Stephen Gunnion to share the results of a preliminary economic analysis (PEA) conducted on its the Carina Module ionic clay rare earths project in Brazil.
Barúa revealed the project's robust economics, highlighting its $1.2 billion net present value and impressive 29% IRR over a 17-year production span. The project's capital repayment time is notably short at 3.6 years, despite a substantial investment of $582 million. Emphasizing Carina's global significance, Barúa noted that its production in 2023 would constitute 13.7% of China's official output, a leading market in this sector.
Beyond financial metrics, Aclara's commitment to environmental sustainability was a key discussion point. The company's patented extraction method eliminates the use of explosives and reduces CO2 emissions by avoiding crushing and milling processes. This eco-friendly approach aligns with circular economy principles, featuring complete recycling of water and plant reagents.
Barúa also highlighted the importance of dysprosium, a rare earth element critical in the energy transition, particularly in electric vehicles. He pointed out the projected surge in dysprosium demand, with estimates indicating a need for 8,000 tonnes by 2033, a significant increase from the current supply of 3,000 tonnes.
Regarding the project's timeline, Barúa explained the gap between the operational pilot plant and the projected commissioning in 2029, attributing it to the lengthy permitting process in Brazil. He remains optimistic, citing enthusiastic support from local government officials and precedent set by other regional producers. The interview concluded with Barúa indicating ongoing drilling efforts to expand Carina's resource base, with updates expected in the coming months.
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