en.Wedoany.com Reported - On April 21, 2026, at the Exploration Forum of Cesco Week 2026, Max Larraín, Legal Manager of Chile's Aclara Company, emphasized that the growing global demand for rare earths presents a strategic opportunity for Chile's mining sector. Rare earth elements such as dysprosium, terbium, neodymium, and praseodymium are crucial for manufacturing high-performance magnets, which are widely used in electric vehicles, wind power generation, and artificial intelligence fields.
Larraín pointed out: "Chile has a unique opportunity to drive the development of critical minerals, and now is a crucial time. We commend the efforts of both the public and private sectors to promote investment in the industry. Continuously streamlining procedures and improving standards will support project exploration." Data from the International Energy Agency shows that the energy transition is driving a sustained rise in demand for rare earths. With global production currently concentrated in Asia, this highlights Chile's potential advantage.
Aclara's rare earth project in Penco, Biobío Region, is in the final stage of obtaining its environmental qualification resolution. The project, with an investment of approximately $130 million, is expected to create 2,200 jobs. It employs the patented "Mineral Circular Harvesting" technology, enabling operations without explosives or tailings dams, using 100% recycled water. The project also plans to contribute over 100 hectares of new land through revegetation.
The company is advancing vertical integration, including separation and metallization stages, to enhance added value. It is collaborating with the CAP Group to operate in Chile, Brazil, and the United States. Larraín added: "We are optimistic and hope Chile will strengthen public policies to support such strategic projects with traceability, contributing to the energy transition." Meanwhile, during the conference, Minister of Economy and Mining Daniel Mas stated that rare earth development is a key potential area for Chile's mining sector, and exploration investment needs to be further increased to meet future demand.
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