Pela Ema will be, at startup, the first mine outside Asia to produce four critical magnetic rare earths, essential for making the magnets used in EVs and wind turbines.
Chile's government said this week it would allow the company to retain 30% of its profits from last year to help finance an ambitious investment plan until the end of the decade.
While Fenix meets the environmental regulations and requirements, it didn’t provide enough information on how it aims to eliminate the “adverse impacts” that the project will have on the area’s wildlife species.