Rare-Earth Miner Aclara Seeks State Funding for US-Brazil Plans

Aclara Resources Inc.is in talks with US government agencies for possible financing toward its $1.5 billion plan to mine rare earths in Latin America and develop processing facilities in the US.

The company is looking to leverage efforts by Western governments to reduce reliance on China, which currently makes about 90% of the world’s rare earth permanent magnets.

Aclara has filed funding submissions with US agencies and is preparing to present its case in Washington, Chief Executive Officer Ramon Barua said in an interview. The firm sees an opportunity after the Pentagon’s recent arrangementto take a stake in ...