ARAAF - Aclara Resources secures up to $80M investment from Chile's CAP for sustainable mining
(NewsDirect)
Aclara Resources CEO Ramon Barua joinsProactive's Stephen Gunnion with details of a significantinvestment deal with Chile's CAP SA, valued at up to $80 million.
Barua said the partnershipunderscores a shared vision for a sustainable future in the extractionof critical minerals. CAP's financial strength and extensiveexperience in Chilean operations, including environmental impactassessments and mine management, will assist Aclara's growth, headded.
The deal not only injects$29 million into Aclara's Chilean operation, REE Uno, but alsooffers the potential for an additional $50 million investment uponpermit approval. This strategic alliance aims to expedite thedevelopment of the Penco Rare Earths Project, focusing on theextraction of vital elements like dysprosium and terbium for electricvehicle motors.
The collaboration is set to enhanceAclara's market valuation and accelerate the production timeline,with the goal of commencing operations by 2027. Additionally, thepartnership includes the formation of a steering committee to overseethe project's progression, highlighting the commitment toadvancing the Penco Module's developmentefficiently.
Contact Details
ProactiveCanada
+1 604-688-8158
na-editorial@proactiveinvestors.com
Copyright (c) 2024 TheNewswire - All rights reserved.