Rare earths are an important topic of debate. Although they are not so rare, according to geologists, their economic recovery is difficult because they are usually present in low concentrations. They are at the center of the debate because they are increasingly important for critical uses such as the manufacture of superconductors, defense equipment and batteries, among others, and because 70% of global production (and 95% of supply) is in the hands of China and, as part of its trade war with the United States, the Asian giant has threatened to restrict its exports. This has triggered a new race to diversify supply sources.

In Chile, the company Aclara, whose major shareholder is the Hochschild group and which is listed on the Toronto Stock Exchange, is developing the first rare earths project in the country. The company, which claims to use a proprietary, low environmental impact technology for the exploitation of rare earths, is building a pilot plant at the Penco project, located on the outskirts of Concepción. Aclara's patented technology has been reviewed by the University of Toronto and the University of Concepcion, the company says. The pilot plant is scheduled to start operations this month and the project to start production in 2026. The investment is estimated at some US$130 million.

The project will focus on the production of dysprosium and terbium, two key chemical elements for the manufacture of electric vehicles and wind turbines. More details can be found here