Considerable progress for Pensana

Pensana chairman Paul Atherley has reflected on “considerable progress for the company” in its development of the world’s first independent and sustainable magnet metal rare earth processing hub at Saltend.

It came as the company released its 2022 Annual Report, building on last week’s investor update. London-listed Pensana has now entered the construction phase for a complex separation plant, a £150 million investment creating 125 highly-skilled jobs in chemical engineering and associated functions.

It will be fed from a mine Pensana is also developing in Angola, Africa, as well as third parties.

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.

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