£15 million funding boost to strengthen supply of critical minerals

Tonnes of rare earth elements – essential for technology such as electric vehicles, wind turbines and smart phones – could be recycled in future thanks to £15 million of government funding for cutting edge research to strengthen supply of critical materials.

Rare earth elements are a family of critical minerals used in products ranging from electric vehicle motors to washing machines. They are vital to the economy, as they are used to create vital components in products ranging from laptops to aircraft. But supply chains are complex and markets are volatile, with most critical minerals sourced from just a handful of countries. This leaves UK jobs and industries vulnerable to market shocks and geopolitical events, which is why the government is working to help UK firms establish resilient and sustainable access to critical minerals.

In July 2022 Pensana launched the UK’s first-ever magnet materials refinery in East Yorkshire, a £145 million facility that will secure hundreds of jobs and form an important part of the UK’s electric vehicle supply chain

Pensana plc (LON:PRE) explores and mines neodymium, praseodymium, and rare earth minerals. The Company’s flagship assets are the Saltend rare earth refinery project in the United Kingdom and Longonjo neodymium and praseodymium (NdPr) Project in Angola.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn
Pensana plc

More articles like this

Pensana plc

Pensana advances preparatory works for Longonjo project in Angola

Preparatory works are forging ahead smoothly at rare earths mining company Pensana’s Longonjo project in Angola, with main construction expected to start in May and cold commissioning to follow in August 2025. Longonjo is one of the world’s largest undeveloped rare earth

Pensana plc

Pensana site preparation works well underway at Longonjo

Pensana plc (LON:PRE) has provided the following update on the Longonjo project: Concrete foundations have been poured for the 316-person modular camp manufactured in South Africa for despatch to site later this month. The on-site team, under

Pensana plc

Rare Earths industry undergoes evolution in energy transition

The rare earths industry continues to evolve under the energy transition. Decarbonisation of key sectors such as transport and increasing renewable energy generation is driving demand for rare earth permanent magnets. Global supply also remains strong

Pensana plc

Pensana progressing activities at Angola project

London-listed Pensana has made significant strides at the Longonjo mine site in Angola ahead of main construction starting later this year. The company is currently busy with civil works for the camp, the rehabilitation of the access road to the