source:Ming News
Pensana (LSE:PRE) announced today that team members from Pensana, Wood and pxGroup are on site at the Saltend Chemicals Park in the UK conducting geotech drilling and trenching for the foundations of its rare earth processing hub, ahead of main construction later in the year.
The company said that this marks the start of building the world’s first sustainable rare earth separation facility with a target production of circa 12,500 annualised tonnes of rare earth oxides, including 4,500 tonnes of magnet metal rare earth oxides which would represent approximately 5% of 2025 projected world demand.
According to the company’s statement, the $125 million facility will create over 100 direct jobs and will supply over 5% of the world’s critical magnet metal oxides for industries including electric vehicles and offshore wind turbines.
Pensana plans to source mixed rare earth sulphate from its state-of-the-art Longonjo mine in Angola.