HOUSTON, June 26th (Argus) - Canadian rare earth developer Aclara Resources has received approval for an estimated $21 million in tax exemptions for its planned heavy rare earth separation plant in Louisiana.
Louisiana has approved an industrial tax exemption program under which 80% of property taxes will be waived for the first five years. Aclara stated on Friday that this policy is expected to reduce tax amounts by approximately $4.2 million per year, totaling $20.8 million over the initial benefit period, and can be extended for another five years at the company's option.
This tax policy will be beneficial in supporting Aclara's processing of mixed rare earth carbonate from ion clay deposits in Chile and Brazil into rare earth oxides, producing heavy rare earths including dysprosium, terbium, yttrium, gadolinium, and samarium.
Aclara continues to undertake engineering, licensing, and financing work for the Louisiana facility, with the goal of breaking ground in the fourth quarter of 2026.
The separation production targets for the plant are 1,131 tons of neodymium and praseodymium per year, 148 tons of dysprosium per year, and 25 tons of terbium per year.
The company's rare earth mineral resource projects include the Carina project in Brazil and the Penco project in Chile.
