Aclara Resources Inc. plans to build a $277 million rare earths plant in Louisiana, the first of its type in the US, as Western nations attempt to reduce reliance on the dominant supplier China.
The heavy rare earths separation facility will process material from Aclara’s clay deposits in Brazil and Chile for magnets used in electric vehicles and wind turbines, the Toronto-listed company said in a statement Friday. Construction is expected to be completed by end-2027, although the project still needs to secure funding and offtake agreements.
