Aclara Resources CEO Ramon Barua Announces Strategic Alliance for Sustainable Permanent Magnets
Vancouver, Canada
|
July 17, 2024 10:44 AM Eastern Daylight Time
Aclara Resources Chief Executive Officer Ramon Barua joined Steve Darling from Proactive to share significant news about the company’s strategic initiatives. Aclara Resources has signed a Memorandum of Understanding (MOU) with VACUUMSCHMELZE GmbH & Co (VAC). This MOU establishes a non-binding, non-exclusive, preliminary agreement for the two companies to jointly approach potential clients with a comprehensive "mine-to-magnets" solution for ESG-compliant permanent magnets.
During the interview, Barua emphasized that Aclara and VAC see a significant market opportunity driven by the rising demand for electric vehicles (EVs), wind turbines, and other clean technologies. These sectors require rare earth permanent magnets, which must meet increasingly stringent ESG standards. Permanent magnets are essential components in these technologies, requiring significant quantities of both light and heavy rare earth minerals.
Currently, the market for these rare earth minerals and the industrial capacity to process them into permanent magnets is limited, with supply concentrated among a few Asia-based suppliers. This supply and demand dynamic presents a promising opportunity to develop a new, resilient, and ESG-focused supply chain for permanent magnets. The strategic alliance between VAC and Aclara is particularly noteworthy due to Aclara's position as one of the few potential suppliers of Dysprosium and Terbium. These two highly sought-after heavy rare earth minerals are critical for the production of permanent magnets and are not easily available outside of Asia.
Aclara is actively developing two ionic clay projects in Chile and Brazil, which are focused on producing high-purity heavy rare earth carbonate. Additionally, the company is advancing its processing technology through its US-based subsidiary. This technology will enable Aclara to process the carbonate into magnetic alloys, which are the essential inputs required by VAC to produce permanent magnets.
Barua expressed optimism about this strategic alliance, highlighting its potential to create a robust and sustainable supply chain for rare earth permanent magnets. This collaboration aligns with Aclara’s commitment to sustainability and innovation, positioning the company to meet the growing global demand for environmentally responsible and high-performance permanent magnets.
With this partnership, Aclara Resources and VAC aim to contribute significantly to the advancement of clean technologies and the broader goal of reducing the carbon footprint of essential industries.
Contact Details
Proactive Canada
+1 604-688-8158
