Pensana Submits Application for Rare Earths Plant in UK

The rare earths developer Pensana Rare Earths PLC submits its proposed $125 million rare earth oxide separation facility in Yorkshire, UK planning application. The planned separation facility would produce rare earth oxides, key components in producing powerful permanent magnets used in electric vehicles and offshore wind turbines, according to a report by MINING WEEKLY.

The application, which is expected to take up to three months to review, supports the company's goal to establish the world's first fully sustainable mine-to-magnet metal supply chain in the UK. The US$125 million plant is expected to employ approximately 100 direct employees during construction and operation, and it will become one of the largest rare earth oxide producers in the world.

The project will be located in Saltend Chemical Park, which hosts a cluster of chemicals and renewable energy businesses, including BP Chemicals. The park provides "plug and play" services, providing ports, various utilities, electricity, chemical supplies, logistics, and a large number of technical personnel.

Paul Atherley, Chairman of Pensana said, “We have been delighted with the enthusiastic support from a broad range of stakeholders for this proposed investment, which will create high-value manufacturing jobs in the Humber region and will be an important step in establishing the world’s first sustainable mine to magnet metal supply chain in the UK”

The plug and play services provided by the px Group at the world-class Saltend Chemicals Park have substantially reduced the capital cost of the proposed facility, allowing us to focus on the operational aspects of the investment and providing scope for our longer-term ambitions.

Pensana Rare Earths PLC said the park's ready access to the port and logistics has slashed the capital cost of the project in the UK, which is expected to generate about 100 direct jobs once operational. Pensana is delisting from the Australian Securities Exchange (ASX) and is expected to cease trading on the exchange on February 24.