Aclara Resources Inc (TSX:ARA, OTC:ARAAF) has filed a new environmental impact assessment (EIA) for the Penco Module heavy rare earths project in Chile, including a commitment to protect native forests and use 100% recycled water.
The EIA has been filed with the Environmental Service Assessment (SEA) in Concepción, capital of the Biobío region.
After gathering feedback via meetings with over 1,000 residents and leaders of the Penco community, the EIA features an improved technical design addressing environmental and social concerns raised by public services and local communities.
The EIA presents a "smaller but more robust project that maintains the positive aspects of the previous EIA such as a fully recycled water source, revegetation with native species and the generation of over 2,000 direct and indirect jobs", the company said.
This design excludes the Jupiter deposition zone and modifies other components to protect native species, including a handful of trees considered vulnerable, which led the SEA to terminate a previous review.
The EIA outlines a commitment to fully revegetate the areas impacted by the extraction process with native species, alongside the existing aim to donate approximately 8,000 naranjillo trees and other species such as pitao and queule trees in the Biobio region and other areas in Chile.
Jose Augusto Palma, Aclara's executive vice president, stated, "The submission of the Penco Module EIA marks a significant milestone for Aclara, which culminates an extensive review of the project aimed at incorporating important technical and sustainability-focused improvements and invaluable feedback from the Penco community."
The company said it is maintaining ongoing communication with the Penco community through its local brand, SomosAclara, and collaborates with twelve universities to promote research and development in the rare earths industry.
The EIA is expected to undergo an evaluation period of approximately 18 months, starting with a preliminary five-business day review period by SEA.
Toronto-listed shares of Aclara had gained 5.6% by midday.