Rare earth metals company Pensana Plc, headquartered in London, UK, reports that it has broken ground at its rare earth processing facility at Saltend Chemicals Park, located in the Humber Local Enterprise Partnership in Yorkshire, where it plans to create what it states is the world’s first rare earth processing facility powered by offshore wind, producing key components for electric vehicle and offshore wind original equipment manufacturers with low-embedded carbon.
Following a twelve-month construction period, the $195 million state-of-the-art plant aims to start production in late 2023, before ramping up to full capacity in 2024. Pensana hopes to produce 12,500 tonnes of separated rare earths, including 4,500 tonnes of the critically important magnet metal rare earths, which represent over 5% of the world’s supply.
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.