Pensana’s proposed rare earth processing facility at Saltend Chemicals Park has received first phase progression from the Government. If built, the plant will produce vital components for both the offshore wind and electric vehicle market.
The UK electrified supply chain opportunity is estimated at £24 billion over the next five years. The ATF is a long-term programme designed to enable the UK to build the world’s most comprehensive and compelling electrified vehicle supply chain, supporting over 160,000 jobs and creating export opportunities. It is part of Advanced Propulsion Centre UK, which provides funding, support and insight to help the nation’s automotive industry transition towards a Net Zero future.
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.