Rare-Earth Miner Aclara Gets US Funding for Brazil Project (1)

Aclara Resources Inc. secured funding from the US government for a Brazilian rare-earth mining project, the latest example of Western nations attempting to reduce reliance on dominant supplier China.

The US International Development Finance Corporation will back the developer with as much as $5 million for the Carina heavy rare-earth project in mid-western Brazil, Toronto-listed Aclara said in a statement Tuesday.

The funds will go toward a feasibility study scheduled for completion early next year. The amount secured may be converted into equity in the future, with DFC also having a preferential option to provide or arrange financing.

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