Aclara’s Penco rare earths project: updated PEA economics for mine planners
Reviewed by Joe Ashwell
First reported on MINING.com
30 Second Briefing
An updated preliminary economic assessment nearly doubles the post-tax NPV of Aclara Resources’ Penco Module ionic clay rare earths project in Chile to C$344 million, despite initial capex rising to C$244 million and the discount rate increasing from 5% to 8%. The mine life is extended to 17 years with a 26.1% IRR, processing 30.8 million tonnes and producing a “super pure” carbonate grading about 6% dysprosium, 0.8% terbium, 54.5% yttrium and 4.2% gadolinium. Measured and indicated resources now stand at 35.8 million tonnes at 2,095 ppm TREO, with construction targeted for completion in 2028 and integration into Aclara’s planned Dynamo processing plant in Louisiana.
Technical Brief
- Both Penco and Brazil’s Carina Module exploit shallow ionic clays, eliminating blasting, crushing and grinding.
- Updated PEA assumes a 55% increase in material processed versus the 2021 plan, to 30.8 Mt.
- Measured and indicated resources now contain 75,025 t TREO, a 19% increase in contained rare earths.
- Inferred resources rise to 2.2 Mt at 1,768 ppm TREO, for 3,848 t contained TREO (+14%).
- Average annual REO output is now forecast at 732 t, about 5% below the 2021 PEA.
- “Super pure” carbonate product is heavily weighted to heavy REEs: 54.5% Y, 6% Dy, 4.2% Gd, 0.8% Tb.
- Final environmental approval for Penco was granted in June after a permitting process exceeding four years.
- Aclara targets Penco feasibility completion in Q1 2027, with mine construction finishing in 2028.
- Dynamo plant construction in Louisiana is planned to start early 2027, fed by Penco and Carina ores.
Our Take
Aclara Resources appears repeatedly in our rare earths coverage alongside US policy pieces, and the potential US$750 million Export-Import Bank of the U.S. backing for the Dynamo platform signals Washington is willing to underwrite not just domestic processing in Louisiana and Virginia but also upstream ionic clay supply in Chile and Brazil.
The heavy rare earth-rich mix at Penco (notably dysprosium, terbium and yttrium contents) lines up with Aclara’s Virginia Tech and Port of Vinton separation work, suggesting the updated PEA is being shaped around feedstock specifications that match US downstream magnet and defence-sector demand rather than generic TREO tonnage.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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