Aclara secures $20m of property tax exemptions in Louisiana ahead of rare earths processing build
TSX-listed Aclara Resources has confirmed final approval by the Louisiana government of more than $20-million in property tax exemptions for the planned heavy rare earth separation facility at the Port of Vinton.
This marks a key milestone in Aclara's effort to build a vertically integrated mine-to-magnet supply chain outside of China.
"The final approval of the property tax exemptions marks another important milestone for Project Dynamo and reflects the outstanding partnership we have built with the State of Louisiana," says Aclara CEO Ramón Barúa.
"We are grateful for the strong support from Governor Jeff Landry, Louisiana Economic Development and our local partners, who share our vision of establishing Louisiana as a strategic hub for rare earth processing and strengthening resilient critical mineral supply chains for the US," he adds.
The incentive is expected to save about $4.2-million a year over the initial five-year term as Aclara advances engineering, permitting, and financing ahead of a targeted fourth-quarter 2026 groundbreaking.
The Louisiana facility will process heavy rare earth feedstock from Aclara's projects in Chile and Brazil into high-purity oxides used in electric vehicles, robotics, wind turbines, defence systems, and other advanced technologies, while complementing the company's rare earth separation pilot plant at Virginia Tech.
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