Chile's Penco Rare Earth Mine EIA Report Approved

According to BNAmericas, the Chilean Environmental Assessment Agency (SEA) has approved the analysis report of the Modulo Penco rare earth project invested by the ReeUno for $130 million.

The company under Aclara Resources hopes to build a mine and a clay rare earth processing plant near Penco in the central and southern part of the Biobío Region. The goal is to produce 1,700 mt of rare earth per year, with a mining life of 17 years. Construction work on the project will start at the end of 2024 and production will begin in 2026. According to the company, the measures it will take to protect the environment include: using local water, realising 95% water recycling, and not producing industrial waste water. Acclara said the project would not require a tailings dam and would create a park with natural species and a deer sanctuary in Penco. The International Renewable Energy Agency predicts that the supply of rare earths will increase fourfold between 2022 and 2030.