Aclara Resources Reveals PFS Results for Carina Project

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Nov 06 2025

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Pre-Feasibility Study Milestone: Aclara has published the first heavy rare earth Mineral Reserves from ionic clays in accordance with NI 43-101, marking a significant milestone as they prepare for the feasibility stage and early works in H1 2026.
Strong Economic Projections: The project has an after-tax Net Present Value of approximately $1.1 billion, an Internal Rate of Return of 22%, and an average annual net revenue of $487 million, with a low production cost of $13.0 per tonne processed.
Production Capacity: Aclara's Carina Project is expected to produce an average of 4,265 tonnes of rare earth oxides annually, including significant quantities of Dysprosium, Terbium, Neodymium, and Praseodymium, contributing notably to global supply.
Strategic Market Position: The future production of Dysprosium and Terbium from Carina will represent 11% of China's official production in 2024, positioning Aclara as a competitive and responsible source of heavy rare earths globally.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.