Corporate Development

Corporate Development

Our principal shareholder is the Hochschild Group (57.7% ownership in Aclara), a recognized economic group with more than 100 years of experience producing in the Americas.

On March 13, 2024, the Company entered into a strategic investment agreement with CAP S.A., a Chilean conglomerate operating in various industries including iron ore mining (5thbiggest iron ore producer in the world), with mines and industrial operations in the north of Chile, as well as in Concepcion, very close to the Penco Module, providing for, amongst other things:

(i) A $29.1 million capital contribution in exchange for a 20% equity ownership interest in the Chilean subsidiary(Penco Module owner); (ii) The grant of an option to invest an additional $50million by CAP in the Chilean subsidiary for an additional 20% equity ownership interest upon the Company obtaining the environmental permit approval in respect of the Penco Module

(iii) The formation of a joint venture to develop metals and alloys for the rare earths permanent magnet industry and contemplates an investment of $3 million in consideration for 50% of the ownership interests in such joint venture entity. (Read the news release here)

‍

Chilean Strategic Partner - CAP

‍

Aclara Corporate Structure after the Completion of the Transaction with CAP