Work has started on a new £150 million complex chemical engineering plant on the Humber Bank, where 125 jobs will be created.
Business Secretary Kwasi Kwarteng broke the ground at Saltend for the Pensana rare earth processing facility – where precious metals will emerge for use in electric vehicles and offshore wind farms. He was photographed as his foot pushed the ceremonial spade into the ground.
Mr Kwarteng, taking the opportunity to launch a first critical minerals strategy for the UK, said: “Supporting a company like Pensana, that refines critical minerals used in magnets for electric vehicles is really important…”
Pensana plc (LON:PRE) explores and mines neodymium, praseodymium, and rare earth minerals. The company is looking to establish the world’s first fully sustainable magnet metal rare earth oxide producer at the Saltend Chemicals Park in the Humber Local Enterprise Partnership Yorkshire, UK.
