Hochschild to raise $100m from Aclara float

Precious metals miner Hochschild Mining said it planned to raise around $100m from the Canadian market float of its rare earth minerals unit Aclara Resources, valuing it at $237m.

Aclara, previously known as Biolantanidos, owns mineral concessions in Chile.

On completion of the demerger and listing on the Toronto Stock Exchange, Hochschild and Pelham Investment, an entity controlled by Eduardo Hochschild, would hold 20% and 30.7%, respectively, of outstanding Aclara shares.