As the global economy pivots towards greener and more innovative industries, the demand for critical raw materials – particularly rare earth elements – has become an issue of strategic importance.
These materials, integral to the net zero, digital, aerospace, and defence sectors, are currently sourced predominantly from monopolistic third-country suppliers. This reliance on external providers poses significant risks to supply chains and threatens Europe’s economic resilience, overarching climate, and digital objectives.
The European Commission has proposed a comprehensive set of actions encapsulated in the newly adopted Critical Raw Materials Act to navigate these challenges. The act aims to secure a diversified, affordable, and sustainable rare earth supply chain through increased European production.
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.