Pensana has adopted a business plan to seek to establish, subject to funding, a world-class, independent and sustainable supply chain of the rare earth metals vital for electric vehicle, wind turbine and other strategic industries.
This involves establishing the world’s first sustainable rare earth separation facility at the “plug and play” Saltend Chemicals Park (SCP) in Humber, UK.
This facility would have a target production of circa 12,500 annualised tonnes of rare earth oxides, including 4,500 tonnes of magnet metal rare earth oxides (NdPr), which would represent approximately 5% of 2025 projected world demand.
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.