Plans in for $125M rare earth processing facility

A proposed $125m (£91.2m) rare earth processing facility in East Yorkshire has taken a step forward with the submission of a planning application.

Pensana Rare Earths plc has submitted a planning application for the proposed rare earth oxide separation facility at the Saltend Chemicals Park.

The facility is being designed by Wood Group and could become one of the world’s largest producers of rare earth oxides, key components in the manufacture of powerful permanent magnets, which are used in a range of advanced industries including electric vehicles and offshore wind turbines. It is expected to create about 100 direct jobs once constructed and in operation.

Pensana Rare Earths 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.

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