Vertical integration
In addition to advancing two ionic clay rare earth projects in South America, Aclara is building out the entire value chain—from mine to magnet:
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.
The separation flowsheet concept, based on solvent extraction, was developed in collaboration with the Saskatchewan Research Council. This concept provided the foundation for Hatch to complete a Class 5-AACE CAPEX and OPEX estimate, while also incorporating robust environmental features such as significant waste reduction and zero liquid discharge. The initial results are highly encouraging, and positions Aclara to become the first vertically integrated heavy rare earths company outside of Asia.
Technical Study Highlights
• Separation of Key REE: Considers the separation of its mixed rare earth carbonates (“MREC”) to be produced by the Company’s Carina Project and the Penco Module to obtain high-purity NdPr, dysprosium and terbium.
• Proven Technology: The flowsheet process employs solvent extraction technology with hydrochloric acid chemistry.
• High Purity: Achieves over 99.5% purity for all separated REE.
• Strong Metallurgical Recoveries: Expected metallurgical recoveries of 94% for NdPr, 92% for Dy and 91% for Tb.
• Environmental Features: Incorporates full water recirculation achieving no liquid discharge.
• Unoptimized CAPEX and OPEX: Initial CAPEX is estimated at US$ 354 million, which includes US$ 244 million for the solvent extraction plant and US$ 110 million to significantly reduce waste and achieve zero liquid discharges. OPEX is estimated at US$ 12 per kg of rare earth oxides (REO).
• Synergies with Circular Mineral Harvesting Process: The development of the separation project has uncovered significant synergies with Aclara’s proprietary circular mineral harvesting process, leading to several new initiatives aimed at (i) reducing CAPEX and OPEX at both mine and separation stages, (ii) minimizing waste management costs, and (iii) maximizing the quality of MREC output from the Carina Project and Penco Module.
Next Steps
Aclara has begun advancing the following activities as part of the next stage of development of its separation project:
• Trade-off Chemistry: Conducting a trade-off study comparing the base case of hydrochloric acid chemistry to a nitrate-based chemistry for the separation flowsheet process.
• Location Study: Conducting a detailed analysis within the U.S. Department of Commerce’s International Trade Administration to identify an optimal site for the contemplated industrial separation facility, with the goal of maximizing efficiency and minimizing cost and development timeline.
• Metallurgical Testing and Optimization: Executing bench scale and mini-pilot testing to optimize the contemplated separation flowsheet, CAPEX and OPEX. Based on these results, the Company will assess the implementation of an integrated piloting campaign and the development of a Class 3-AACE CAPEX and OPEX engineering study.
Having the rare earths processing technology, together with a balanced feed between heavy and light rare earths, is a coveted strategic asset within the current complex geopolitical scenario. This strategy has provided new opportunities for Aclara, increasing our dialogue with several governments interested in supporting our project.
The key targeted milestones for 2025 to advance its separation project in the United States include:
• Completion of the plant location study (2025)
• Laboratory test work (Q2 2025)
• Integrated pilot scale testing (Q3-Q4 2025)
Aclara is advancing its metals and alloys capabilities through a joint venture with CAP S.A., the Company’s strategic partner in Chile, with the goal to integrate the entire clean rare earths production chain up to the point where it meets permanent magnet manufacturers' specifications.
This facility will use rare earth oxides from Aclara’s mining and separation processes to produce alloys tailored to the needs of electric vehicle (“EV”) magnet makers. Working closely with the Engineering Department of Huachipato (a CAP S.A.-owned steel facility), Aclara Metals has successfully combined Huachipato’s metallurgical expertise with practical and theoretical learning, including site visits and small-scale experimental production campaigns at international facilities. Notably, the team has achieved successful low-volume production of metallic dysprosium. In a short time, this collaboration has produced a conceptual flowsheet for metals and alloys that meet EV magnet manufacturers' stringent requirements.
The industrial facility will incorporate modifications to the proven technology of metal and alloy production processes to comply with strict emissions regulations.
Among others, this plant will consider:
• Electrolytic Reduction: process carried out by an electrolytic cell equipment, producing NdPr alloy, with a 99.5% purity, and ferro-Dy.
• Vacuum Induction Melting: to produce terbium metallic with a 99.4% purity.
• Strip Caster Furnace: production of alloys considering NdPr, Dy and Tb.
Next Steps
• Pilot Plant Design (Q2 2025): based on the industrial processes already considered, a pilot plant has been designed to identify and to test specific variables to measure its impact in the industrial design, to reduce as much as possible technological risks regarding the correct functioning of the proposed production processes, delivering a product that meets customer requirements.
• Location analysis (Q3 2025): develop a location-specific study considering emissions, regulations, and general conditions and limitations of handling and storage of reagents and consumables for the metals and alloys REE plant
• Conceptual Engineering (Q3 2025): completing this study based on the pilot plant design, site visits and small-scale experimental production campaigns, working with Huachipato Engineering Department and external advisors.
• Pre Feasibility Study (Q4 2025)
Aclara's vision is to become the foudation of a sustainable value chain fot technologies that are integral to the world's green energy transition
