Chile Rare Earth Review Identifies Penco as Country's Only Code-Defined Resource

Highlights

• Penco is Chile's sole rare earth deposit reaching the study's highest evidence tier, with 27.5 Mt at 2,292 ppm TREO and 62.9 kt contained TREO.
• Modeled recoveries vary widely—19.53% for Nd versus 43.23% for Dy—highlighting the gap between geology and industrial production.
• Chile lacks demonstrated domestic separation into individual rare earth oxides, risking its role as an upstream resource holder rather than a midstream value creator.
• Researchers used a five-level evidence framework reviewing data through July 2026, covering clays, hard-rock deposits, mine waste, and offshore resources.
• Key next steps include pilot separation, tailings metallurgy, radiological characterization, and credible economic assessments.