Aclara Resources has completed the second tranche of its earn-in agreement, achieving full ownership of the mining rights in the Carina Module in the north-eastern part of the State of Goiás, in central Brazil.

This milestone follows the initial acquisition of a 51% interest in November 2023 from an undisclosed company.

The Carina Module, spanning 8,490 hectares, is now entirely under Aclara’s control after the company fulfilled the earn-in agreement’s conditions.

To secure the remaining 49% interest, Aclara drilled an additional 2,000m within the project area, invested a further $2m (1.97bn pesos) in exploration expenses and paid the mining rights owner another $300,000.

These efforts are on top of the initial 2,000m drilled and $1m invested in 2023, along with the initial $200,000 payment.

The agreement also includes a royalty clause, granting the previous owner a share of the profits once the Carina Module enters commercial production.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

However, Aclara retains the option to buy out this royalty for $6.5m during the project’s first year of commercial operation.

Aclara CEO Ramon Barua said: “We are pleased to report that we have earned 100% interest of the Carina Module mining rights.

“After only five months of announcing the discovery of the Carina Module, we have reported a material mineral resource estimate, a robust Preliminary Economic Assessment, and are in the middle of a piloting programme using Brazilian clays at our pilot plant in Concepción, Chile.

“In addition, we continue to advance the project in several fronts, including an ongoing reverse-circulation drilling campaign to increase mineral resources at depth, the initiation of the environmental and social baseline studies and the evaluation of several proposals from world-class engineering companies to prepare a pre-feasibility study.”