The UK Government has announced it will provide £15m in funding to innovate rare earth elements recycling technologies and techniques – a significant boost to the UK’s critical minerals supply chains.
Rare earth elements – a group of 17 chemical elements that are all metals, including fifteen lanthanides, and yttrium and scandium, will play a pivotal role in the green transition. Rare earths are vital in a range of technologies that will help decarbonise the planet, including electric vehicles (EVs) and wind turbines.
However, as the demand for green technologies is set to increase significantly in the coming years, establishing robust and reliable supply chains for rare earth elements will be vital in achieving climate goals. The recently announced government funding will enable cutting-edge research to enhance recycling for these critical minerals.
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.