In an exciting development for the rare earth minerals industry, Aclara Resources Inc. (TSX:ARA) has announced a strategic alliance with VACUUMSCHMELZE GmbH & Co. KG (VAC) to develop a “mine-to-magnets” solution for ESG compliant permanent magnets. This collaboration aims to address the increasing demand for rare earth permanent magnets driven by the rise of electric vehicles (EVs), wind turbines, and other clean technologies that adhere to stringent ESG standards.
Aclara, with its focus on developing ionic clay projects in Chile and Brazil for heavy rare earth minerals such as Dysprosium and Terbium, is a key player in this alliance. These minerals are crucial in the production of permanent magnets and are currently sourced mainly from Asia. By partnering with VAC, a leading producer of rare earth magnets with over 40 years of experience, Aclara aims to establish a sustainable supply chain for high-performance permanent magnets.
The collaboration will involve joint efforts to analyze the cost structure from mine to magnets, provide product specifications for EV magnets, and approach potential customers with a comprehensive solution. VAC’s recent contract with General Motors to supply permanent magnets for EV motors in the United States further solidifies the alliance’s position in the market.
Erik Eschen, CEO of VAC, expressed enthusiasm for the partnership, highlighting the strategic importance of Dysprosium and Terbium in decarbonizing transportation and generating renewable energy. Aclara’s CEO, Ramon Barua, echoed this sentiment, emphasizing the significance of addressing the emerging need for rare earth supply chains in the transition to electric vehicles.
VAC’s expertise in magnet technology combined with Aclara’s rare earth mineral resources and processing capabilities sets the stage for a promising collaboration that aligns with global sustainability goals. This alliance not only creates value for both companies but also contributes to a greener, more sustainable future.
About VAC:
VACUUMSCHMELZE (VAC) is a renowned global producer of rare earth permanent magnets and inductive components. With a century of experience in material science and product development, VAC’s advanced magnetic solutions cater to a wide range of industries including renewable energy, automotive, and aerospace.
About Aclara:
Aclara Resources Inc. (TSX: ARA) focuses on developing heavy rare earth mineral resources in South America. Its environmentally friendly extraction process, combined with its commitment to sustainable practices, positions Aclara as a key player in the rare earth minerals sector.
This strategic alliance between Aclara and VAC marks a significant milestone in the rare earth minerals industry, promising a sustainable supply chain for high-performance permanent magnets. With the increasing demand for ESG compliant technologies, this collaboration reflects a shared commitment to innovation and sustainability in the global market.