Aim-listed Pensana says that, following the recent £15-million premium equity raise which was strongly supported by the company’s major shareholders, early-stage development has started on the establishment of its rare earth processing hub at the Saltend Chemicals Park in Humber, in the UK.
The Saltend plant will be the first major rare earth separation facility to be built in over a decade and the first to be located in a freeport.
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.