Pensana chairman Paul Atherley is to meet with senior UK government officials this week to discuss support for the £100 million Saltend plant.
Early stage work to develop the complex chemical engineering facility, where 100 jobs will be created, is under way.
The discussions will come as Australia, the US and the EU push to establish vital rare earth supply chains, with the realisation of the importance when it comes to net zero transitions.
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.