At yesterday’s Prime Minister’s Question Time In response to Andrew Murrison, MP for South West Wiltshire who asked:
“Mr Speaker, Net Zero, Levelling Up and Building Back Better can’t happen unless we have a massive increase in the supply of critical tech minerals like silicon, copper and lithium, but Beijing controls most of them.Noting China’s recent tech minerals leverage on Japan, does he agree with me that the success of our green industrial revolution hinges on advancing our indigenous Silicon Valley and, free of the EU, what fiscal incentives can he now provide to make it happen at pace?”
Prime Minister, Boris Johnson, replied:
“I thank my Honourable Friend for that and as he knows, there are some very, very interesting and potentially very lucrative sources of minerals such as lithium in this country whose exploration, discovery and reuse we are encouraging.
But secondly, on the tax point that he rightly raises we are going to use Freeports to ensure that we support them as hubs for the processing of those critical minerals here in the UK.”
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.