Pensana and The Yorkshire Energy Park (YEP), at an on-site event on November 17, signed a letter of intent for the site of a future permanent magnet metal facility within the park.
The YEP is located adjacent to the Saltend Chemicals Park in the Humber Freeport UK.
The letter of intent with the YEP covers the proposed site, as well as the supply of zero-carbon electricity and a range of bespoke facilities for the processing of rare earths in magnet metals, research and development and supply chain activities.
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.