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Carina Module
Overview
In January 2024, the Company initiated the development of environmental baseline studies for the Carina Module. This process includes the following studies:
- Environmental baseline studies
- Caving studies
- Radionuclides characterization
- Hydrogeological characterization
- Acid drainage study
- Archaeological survey
- Social baseline studies, including engagement with the Quilombola community
The Company expects to complete the baselines and deliver a corresponding EIA study during the first half of 2025.
On August 16th, 2024, Aclara announced the signing of a Memorandum of Understanding (MoU) with the State of Goiás and the Municipality of Nova Roma. This agreement underscores the strategic importance of the Carina Module project, aligning it with the best interests of both the State and Nova Roma. The partnership aims to expedite the permitting process and support the execution, implementation, and operation of the project, highlighting its significance for the social and economic development of Nova Roma and Goiás. This initiative also strengthens Brazil's position as a key player in the sustainable supply of critical minerals.
Key Responsibilities:
- State of Goiás and Municipality of Nova Roma: To work to efficiently evaluate the environmental and other permits required for the Project, support critical infrastructure enhancements and partner with Aclara to assist in the development of the local workforce.
- Aclara: To invest $582.3 million (expected CAPEX outlined on the preliminary economic assessment of the Carina Module previously announced by the Company on January 22, 2024), creating 3,200 direct jobs and prioritizing local work force and suppliers.
Preliminary Economic Assessment
Pre Feasibility Study
Aclara awarded the Carina Module Pre-Feasibility Study (PFS)contract to Hatch, a global multidisciplinary management, engineering, and development consultancy.
The Carina PFS will be an internal study focused on identifying the optimal project configuration to serve as a basis for the upcoming Feasibility Study. The PFS is expected to be completed by the second half of 2025 and will immediately be followed by the Feasibility Study phase which is expected to be complete by the second half of 2026. The Feasibility Study will be developed and made public in accordance with the National Instrument 43-101 Guidelines associated with the Standards of Disclosure for Mineral Projects.
In August 2024, Aclara announced an updated mineral resource estimate (MRE) for its Carina Module. The updated estimate reveals an inferred mineral resource of 298 million tonnes (Mt), marking an 77% increase from the previously reported 168 Mt in December 2023. The contained amounts of critical magnetic elements have also seen a significant boost, with heavy rare earth elements (dysprosium and terbium) increasing from 8,240 tonnes to 14,012 tonnes, and light rare earth elements (neodymium and praseodymium) rising from 49,832 tonnes to 86,439 tonnes. Additionally, the Carina Module's near-surface location, with a low strip ratio of 0.2, positions it favorably for low-cost mining operations.
Looking ahead, Aclara plans to complete an updated preliminary economic assessment (PEA) of the Carina Module by September 2024 and continue its pre feasibility study with HATCH.
- CIM (2014) definitions were followed for mineral resources
- NSR Cut-off: The NSR Cut-off used is based on the marginal costs of the Carina Module. Using a marginal cut-off to discriminate between waste and plant feed (ore) ensures that the net revenue value of the rare earth concentrate produced is equal to the cost of producing it. Since this strategy is applied only to material contained by the "optimal" pit, which contains material that must be mined out, it will maximize cash flow over the life of the operation.
At the end of February 2023, Aclara completed a piloting operation of a 25-tonne shipment of ionic clays extracted from the Carina Module in its pilot plant facility in Concepción, Chile.
Objectives achieved
- Semi-industrial scale processing: Compatibility of the patented Circular Mineral Harvesting technology with the Carina Module ionic clays on a semi-industrial scale.
- Production of heavy rare earth carbonate samples for commercial purposes: 47kg of premium heavy rare earth carbonates were produced.
- Optimization of processing flowsheet: Process flowsheet modifications that were identified during the piloting campaign conducted in 2023 with the Penco Module ionic clays were implemented and evaluated during the Carina Module piloting operation. These modifications aimed to facilitate the production of an end product that is more conducive to the subsequent Rare Earth Element (REE) separation stage.
- Continued demonstration of environmental attributes: Revalidate the Circular Mineral Harvesting methodology, wherein 95% of the water and 99% of the primary reagent (ammonium sulfate) employed in the extraction process are recycled, thereby preventing the generation of liquid residues and eliminating the necessity for a tailings storage facility.
Location and Infrastructure
The Carina Module is located in the north-eastern part of the State of Goiás, in central Brazil. The site can be accessed via paved roads from Goiânia (the capital of the Goiás state) or Brasília (the capital of Brazil).
From a district perspective, access to the site is via a 50km gravel road and the supply of electricity, water, and sanitation is provided by the Brazilian government utilities.
The State of Goiás is also the home of the ion-adsorption clay project managed by Mineração Serra Verde, which has successfully obtained the required environmental and operating permits needed to construct and operate their mine and processing facility and which recently commenced commercial production.
