Aclara Resources, Inc. (TSE:ARA) has released an update.
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Aclara Resources Inc. has entered into a preliminary agreement with VACUUMSCHMELZE GmbH & Co. KG to offer a sustainable ‘mine-to-magnets’ solution, targeting the growing electric vehicle and clean technology markets that demand ESG-compliant rare earth permanent magnets. This strategic alliance capitalizes on Aclara’s projects in Chile and Brazil for rare earth mineral production and VAC’s expertise as a leading magnet producer, aiming to reduce the current market’s reliance on Asia-based suppliers. Together, Aclara and VAC are set to supply high-performance permanent magnets for EV motors and other technologies globally.
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