The holding company revealed that it will invest US$29.1 million in the acquisition of 20% of the Canadian firm that operates in Chile. Of the total, US$ 9.7 million will be paid at the closing of the transaction, US$ 12.5 million in January 2025 and US$ 6.9 million in January 2026.
CAP Group and Aclara Resources - a company listed at the Toronto Stock Exchange - announced that they reached a strategic partnership for the production of rare earths and key products for electromobility and decarbonization.
Currently, Aclara is developing a rare-earths project in Penco, a community belonging to Gran Concepción in the Bío Bío region, about 450 kilometers from the capital, Santiago. The project would require US$130 million investments and could generate 400 direct and 2,200 indirect jobs in the area.
In a statement, CAP Group detailed that it will invest US$29.1 million in the acquisition of 20% of the Canadian subsidiary in Chile, in three payments: US$9.7 million at the closing of the transaction, US$12.5 million in January in 2025 and US$6.9 million in January 2026.
“In addition, the agreement considers the option to invest another US$ 50 million for an additional 20% of Aclara in Chile and a three-year option to invest up to 19.9% in Aclara Resources, the company's parent company based in Canada,” the statement adds.
In tandem, Grupo CAP will inject US$ 3 million to a new alliance with Aclara --REE Alloys SpA-- in which both parties will be equal owners and will develop value-added products based on “iron alloys and rare-earths, which are used as raw material for the final manufacture of permanent magnets.”
The general manager of CAP Group, Nicolás Burr, commented that they plan to be a leader in the production of essential materials for decarbonization and energy transition.
“This is a very important step to fulfill the strategy and purpose. The association with an innovative company, with sustainable projects and enormous growth potential is a relevant milestone for the company,” he mentioned.
On behalf of Aclara Resources, its general manager, Ramón Barúa, indicated that the alliance will allow them to “join forces in the development of rare-earths and their vertical integration with the permanent magnets industry, critical in the global decarbonization process.”
In parallel, Aclara has a project valued at US$1.2 billion for the production of rare-earths in the State of Goiás in Brazil, Carina Module, which is about five times larger than the project in Penco.
Likewise, it has investments in Peru and said it is studying a project to separate rare-earths “for greater vertical integration and added value to its products from Chile, Brazil and Peru.”
