Pensana PLC to Build $195 Million Rare Earths Facility in UK

Pensana PLC, a rare earth developer based in the north of the UK, said it is building a rare earth facility that will begin production by the end of 2023, the first major rare earths facility to be developed in more than a decade that will be powered by offshore wind.

Located at the Humber Freeport in East Yorkshire, the facility will equip manufacturers of original equipment for electric vehicles and offshore wind power to produce key components. The company aims to produce 12,500 tons of separated rare earths, including 4,500 tons of highly important magnetic metal rare earths such as neodymium and praseodymium (NdPr).

(Photo source: Pensana)

Pensana plans to begin production at the Saltend Rare Earth Processing Center by the end of 2023, following a 12-month construction period. The facility will be one of only three major rare earth oxide producers outside of China and is expected to reach full production capacity in 2024.

The Saltend Rare Earth Processing Center is expected to create more than 450 jobs during the construction phase and 125 permanent jobs once operations begin. "It is a great privilege to have broken ground on the world’s first independent and sustainable rare earths separation plant," said Pensana Chairman Paul Atherley.

Kwarteng’s demonstration of strong government support for Saltend and the Company is confirmation of the importance of Pensana’s aim to create the world’s first independent and sustainable rare earth supply chain.

"This is a huge milestone for Pensana PLC, the Humber region, and the UK, and is part of our ambition to build a critical supply chain of magnetic metals to ensure a green energy transition." In addition, Pensana has secured funding to support the development of rare earth facilities under the UK government's £1 billion Automotive Transformation Fund (ATF).

(Photo source: Mining Technology)

Pensana is looking to establish a world-class, independent, and sustainable supply chain of the rare earth metals vital for electric vehicles, wind turbine, and other strategic industries.

The ATF program is designed to facilitate the creation of an end-to-end electrified vehicle supply chain in the country. Kwasi Kwarteng, Secretary of State at the UK Department for Business, Energy and Industrial Strategy, said, "the Pensana PLC's rare earth facility in the UK has been made possible in part through government support and shows how our plans to secure an internationally competitive electric vehicle supply chain continue to gain momentum. This incredible facility will be the only of its kind in Europe and will help secure the resilience of Britain’s supplies into the future.”

(Source: MINING TECHNOLOGY)

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