Mineral Resource

Annual production

Permits

On June 8, 2026 the Environmental Assessment Commission of the Biobío Region unanimously approved the Environmental Impact Assessment (EIA) for the Penco Module and authorized the issuance of the Environmental Qualification Resolution (RCA), which marks the successful completion of the Project's environmental permitting process, authorizing the development and operation of the Project.

Throughout the evaluation, Aclara submitted three addenda addressing more than 700 technical observations and considered over 1,000 citizen observations submitted by 255 participants during the public participation process.

During peak construction and operations, the Project is expected to create approximately 700 construction jobs and 400 operational jobs, supporting an estimated 2,200 direct and indirect employment opportunities across the Biobío Region.

EIA Highlights:‍

• Aclara secured a 100% recycled water source to further enhance the project's sustainability measures. The recycled water will be provided by Essbio, the water utility company of Concepción, which collects and treats water from the city before its environmental discharge. This collaborative effort between Aclara and Essbio marks the first fully recycled water supply project in the Biobío region, reinforcing Aclara’s commitment to preserving local water resources.

• The EIA also prioritizes reforestation, committing to revegetate over 100 hectares with native species.

• The project components have been modified to avoid the areas where any naranjillo trees are present.

‍“Early Citizen Participation” Process:

• Engaged with over 1,000 residents, leaders, and opinion leaders of Penco.

• Received a record 303 recommendations and comments from the community.

• Conducted over 400 guided tours of the Company’s pilot plant for residents and academic researchers.

• Established Casa Aclara near Penco’s main square for ongoing community dialogue, with around 100 visitors weekly.

Pilot plant

Aclara’s pilot plant run in Chile in 2023 and it successfully met the following objectives:

• Validating the closed-circuit flowsheet with a continuous operation at a semi-industrial scale

• Confirming the processing parameters and process flowsheet design for a future full-scale plant design

• Enhancing certain parameters and design of the process flowsheet to achieve higher efficiency and lower costs

• Generating a high purity HREE concentrate for separation trials in support of future off-take agreements

• Generating processed clays to confirm that they are chemically stable when returned to the field

Government recognition

In September 2024, the Chilean government introduced a comprehensive "Industrial Strengthening Plan" for the Biobío region, led by the Minister of Economy. 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. Aclara's Penco Module is among 25 large-scale projects featured, with the potential to significantly advance regional development.
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