£4m grant awarded to Pensana for Saltend rare earth separation site

A grant of up to £4 million has been offered by the government to support the build out of Pensana’s rare earth separation plant at Saltend.

Chairman Paul Atherley has confirmed the award, part of the Automotive Transformation Fund. It comes after London Metals Week saw the project classed as a strategically important development in Westminster, while being highlighted during Mineral Security Partnership talks between UK and US.

The site forms part of the Humber Freeport, and would welcome shipments from mines being established in Angola by the company.

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.

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