Pensana Chairman Paul Atherley has met Nusrat Ghani, Minister of State at the Department for Business and Trade and Cabinet Office, to discuss the potential UK and US Government support for its Saltend project, which is predicted to be a vital link in the UK automotive supply chain.
The meeting highlighted that development of the US$250 million Saltend project would be an important step in supporting the UK automotive supply chain, which employs over 780,000 people.
By 2030 the UK is expected to have transitioned to be a world leader in the manufacture of electric drive units, producing three million every year, with a large proportion destined for export. Without a secure magnet metal supply chain this is under threat.
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.
