TORONTO, ON / ACCESS Newswire / May 16, 2025 / Aclara Resources Inc. ("Aclara" or "Company") (TSX:ARA) is pleased to announce that, as part of the environmental licensing evaluation process, it has received the second round of technical observations, known in Chile as the "Second ICSARA", from the Environmental Service Assessment Authority (the "SEA") and various other government agencies that reviewed the Penco Module Environmental Impact Assessment (the "EIA").
Of the twenty reviewing agencies, 16 agencies formulated and submitted additional questions, while the other four expressed their acceptance of the EIA with no additional comments. The Second ICSARA is comprised of 205 questions regarding technical aspects of the EIA. The Company plans to file its response to the Second ICSARA during the third quarter of 2025 and remains committed to working closely with the SEA throughout the environmental evaluation process.
Jose Augusto Palma, Aclara's Executive Vice President, commented: "We are pleased with the progress made in the EIA evaluation process and very optimistic that we can address all of the questions and comments received in the Second ICSARA to complete the process as soon as possible. We are committed to our objective of the Penco Module commencing operations in 2028 while achieving the highest environmental and social standards and positioning Chile as a global player in critical minerals, which are required for the world's energy transition, robotics and other high-tech applications. We will continue to work with the authorities and local stakeholders to achieve this objective."
About Aclara
Aclara Resources Inc. (TSX:ARA), a Toronto Stock Exchange listed company, is focused on building a vertically integrated supply chain for rare earths alloys used in permanent magnets. This strategy is supported by Aclara's development of rare earth mineral resources hosted in ionic clay deposits, which contain high concentrations of the scarce heavy rare earths, providing the Company with a long-term, reliable source of these critical materials. The Company's rare earth mineral resource development projects include the Carina Project in the State of Goiás, Brazil as its flagship project and the Penco Module in the Biobío Region of Chile. Both projects feature Aclara's patented technology named Circular Mineral Harvesting, which offers a sustainable and energy-efficient extraction process for rare earths from ionic clay deposits. The Circular Mineral Harvesting process has been designed to minimize the water consumption and overall environmental impact through recycling and circular economy principles. Through its wholly-owned subsidiary, Aclara Technologies Inc., the Company is further enhancing its product value by developing a rare earths separation plant in the United States. This facility will process mixed rare earth carbonates sourced from Aclara's mineral resource projects, separating them into pure individual rare earth oxides. Additionally, Aclara through a joint venture with CAP S.A., is advancing its alloy-making capabilities to convert these refined oxides into the alloys needed for fabricating permanent magnets. This joint venture leverages CAP's extensive expertise in metal refining and special ferro-alloyed steels. Beyond the Carina Project and the Penco Module, Aclara is committed to expanding its mineral resource portfolio by exploring greenfield opportunities and further developing projects within its existing concessions in Brazil, Chile, and Peru, aiming to increase future production of heavy rare earths.
Forward-Looking Statements
Forward-Looking Statements This news release contains "forward-looking information" within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including statements with regard to the permitting process and outcome of the environmental evaluation process in relation to the Penco Module. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to risks related to operating in a foreign jurisdiction, including political and economic risks in Chile and Brazil; risks related to changes to mining laws and regulations and the termination or non-renewal of mining rights by governmental authorities; risks related to failure to comply with the law or obtain necessary permits and licenses or renew them; cost of compliance with applicable environmental regulations; actual production, capital and operating costs may be different than those anticipated; the Company may be not able to successfully complete the development, construction and startup of mines and new development projects; risks related to fluctuation in commodity prices; risks related to mining operations; and dependence on the Penco Module and/or the Carina Project. Aclara cautions that the foregoing list of factors is not exhaustive. For a detailed discussion of the foregoing factors, among others, please refer to the risk factors discussed under "Risk Factors" in the Company's annual information form dated as of March 20, 2025, filed on the Company's SEDAR+ profile. Actual results and timing could differ materially from those projected herein. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release and the Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information, please contact:
Ramón Barúa Costa
Chief Executive Officer
investorrelations@aclara-re.com
SOURCE: Aclara Resources Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/eia-evaluation-process-for-the-penco-module-advances-to-next-phase-1028507
