London-listed Pensana has advised that front-end engineering design (FEED) work at the Saltend Chemicals Park, in Humber Freeport, England, is advancing on schedule for completion in October.
The company will thereafter award engineering, procurement and construction management contracts.
Pensana has entered into a 25-year lease agreement with pxGroup and Associated British Ports for the initial 9 ha Saltend site, with scope for expansion.
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.