Aclara secures Chile environmental approval for Penco rare-earths project
TSX-listed Aclara Resources said on Tuesday it had received the final environmental greenlight for its Penco Module rare-earths project in Chile's Biobio region, a key step that moves the company toward lining up sectoral permits, engineering and eventual construction.
The Penco Module, being developed with Chilean steel and mining group CAP, is designed as a rare-earth ionic clay project supplying materials used in permanent magnets.
Aclara has previously said Penco represents about a $130-million investment and is expected to create roughly 700 construction jobs and 400 operating jobs.
Rare earths are essential inputs for the magnets used in electric vehicles, wind turbines and other strategic technologies, while supply chains remain highly concentrated in China.
Aclara is trying to position Penco as part of a broader mine-to-magnet supply chain spanning Chile and Brazil feedstock, a planned heavy rare-earth separation facility in Louisiana and downstream alloy-making with CAP.
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