Aclara Resources (ARAAF) Pursuing $1.5B for Rare Earth Mining in Latin America

Aclara Resources Inc. (OTCMKTS:ARAAF) is one of the best rare earth stocks to buy now. On July 22, reports emerged indicating the company was in talks with the US government for possible financing toward a $1.5 billion plan targeting rare earths mining.

The company is seeking $1.5 billion in financing to kickstart mining of rare earth minerals in Latin America. It also plans to develop processing facilities in the US. The company has already submitted its filings with US agencies and is preparing to present its case in Washington.

“Those conversations right now are private, but a project like ours definitely catches the attention of the administration. So we’re trying to explore together with them if there’s an opportunity to join forces,” Chief Executive Officer Ramon Barua said in an interview.

By 2028, Aclara aims to commence mining of ionic clay resources in Brazil and Chile to supply components for wind turbines and electric vehicles. In addition to the extraction projects in Brazil and Chile, the company is exploring potential sites for processing rare earth metals in the United States.

Aclara Resources Inc. (OTCMKTS:ARAAF) is a company focused on producing heavy rare earths. It focuses on supporting the transition to a decarbonized planet by providing critical rare earths for green technologies, such as electric vehicles and wind turbines. Its “mine to magnet” strategy involves developing rare earth mineral resources, particularly from ionic clay deposits, and then separating these into individual rare earth oxides.

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Disclosure: None. This article is originally published at Insider Monkey.