Business
Aclara's Penco Module included in Chile's strategic Industrial Strengthening Plan for the Biobío region
TORONTO, ON / ACCESSWIRE / September 17, 2024 / Aclara Resources Inc. ("Aclara" or "Company") (TSX:ARA) is pleased to announce that the Chilean government has u
About this update from Aclara Resources, Inc.
[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / September 17, 2024 / Aclara Resources Inc. (\"Aclara\" or \"Company\") (TSX:ARA) is pleased to announce that the Chilean government has unveiled a comprehensive \"Industrial Strengthening Plan\" for the Biobío region. This plan highlights the Penco Module as one of the key projects selected to bolster the region's future economic growth. The Industrial Strengthening Plan aims to revitalize the Biobío economic landscape, which has faced challenges due to slow economic activity and lack of consistent new investments over the past two decades. Key objectives include accelerating private investment and enhancing the capabilities of institutions responsible for investment approvals. Aclara's Penco Module is among 25 large-scale projects featured, representing a combined potential investment of US$ 6.8 billion and the creation of up to 5,000 jobs during their operational phases, significantly advancing regional development. Aclara's CEO, Ramon Barua, commented: \"This announcement reaffirms the strategic nature of our Penco Module project for the Biobío region and the Chilean government. Aclara, in partnership with CAP, remains fully committed to the economic growth of the Biobío region and working closely with local communities and regional authorities to progress the development of the Penco Module. We remain focused on advancing the permitting process and are dedicated to working collaboratively with the SEA throughout the assessment and review process.\" About Acara Aclara Resources Inc. (TSX:ARA) is a development-stage company that focuses on heavy rare earth mineral resources hosted in Ion-Adsorption Clay deposits. The Company's rare earth mineral resource development projects include the Penco Module in the Bio-Bio Region of Chile and the Carina Module in the State of Goiás, Brazil. Aclara's rare earth extraction process offers several environmentally attractive features. Circular mineral harvesting does not involve blasting, crushing, or milling, and therefore does not generate tailings and eliminates the need for a tailing's storage facility. The extraction process developed by Aclara minimizes water consumption through high levels of water recirculation made possible by the inclusion of a water treatment facility within its patented process design. The ionic clay feedstock is amenable to leac...