Pensana and Yorkshire Energy Park to explore magnet metal plant opportunity

Inward-investing Pensana has revealed early stage plans for major expansion of its operations in East Yorkshire.

The rare earth specialist, making strong headway in funding its £150 million separation facility at Saltend Chemicals Park, is now looking across the road to develop a magnet metal operation at Yorkshire Energy Park. A letter of intent has been signed with the land owners, a consortium headed by Hull’s Sewell Group. At the heart of it would be electric furnaces powered by offshore wind.

A timeframe, as well as level of investment, has yet to be revealed, with a scoping study underway, but it is envisaged a further 60 jobs could join the 120 to be created at Saltend. 

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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