Chancellor Rishi Sunak in his Autumn budget and spending review has announced over £3.2 billion of commitments to electric vehicles and offshore wind in the UK to support the Net Zero 2050 and the Levelling Up agendas.
The UK has also committed to publish a UK Critical Minerals Strategy in 2022. Pensana will assist the government and contribute to that strategy.
These government commitments come at a time when Pensana is completing its FEED for the establishment of a world-class magnet metal rare-earth processing hub located at Saltend Chemicals Park in the Humber 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.