Pensana plans $125M rare earth separation facility in England
UK-based Pensanaplans to build, subject to funding, a US$125-million sustainable rare earth separation facility at the Saltend Chemicals Park (“SCP”) in Humber, UK. Targeted production is around 12,500 annualized tonnes of rare earth oxides, including 4,500 tonnes of magnet metal rare earth oxides (NdPr), which would represent approximately 5% of 2025 projected world demand.
The Saltend plant would purify rare earth sulfates, which would be imported from the company’s Longonjo mine in Angola.
Saltend has the potential to become the first major separation facility to be established in over a decade one of only three major producers outside China at a critical juncture when Europe depends on China for 98% of its rare earth magnets.
PENSANA PLC
Establishing a World-Class Sustainable Supply
of critical Rare Earths for the Green economy
Pensana Plc (LSE: PRE) (“Pensana” or “the Company”) today announces the Company has adopted a business plan to seek to establish, subject to funding, a world-class, independent and sustainable supply chain of the rare earth metals vital for electric vehicle, wind turbine and other strategic industries. This involves:
Pensana’s Chairman, commented:
Paul Atherley
“Saltend has the potential to become the first major separation facility to be established in over a decade – one of only three major producers outside – at a critical juncture when depends on for 98% of its rare earth magnets.
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The company is focusing on the development of its rare earth metals projects located in Longonjo and nearby Coola in Angola. But the directors’ vision extends to downstream operations as well. And the company recently submitted a planning application to establish a rare earth oxide separation facility at the Saltend Chemicals Park in Humber, Yorkshire.
If Pensana can develop its upstream and downstream operations, it would provide the UK with the
“
world’s first” sustainable magnet metal supply chain. And this is exciting because the industry is set to balloon. That’s because of burgeoning demand driven by Electric Vehicle (EV) and offshore wind generator production. However, Pensana reckons China has a near-monopoly supplying around 87% of the world’s rare earths. And the country sources much of it unsustainably.