Pensana Rare Earths has selected the Saltend Chemicals Park in England as the site for its proposed rare earth processing facility as part of its venture to establish a sustainable magnet metal supply chain fed by its mine property in Angola.
It would become one of only a few major producers outside China of rare earth oxides used in the manufacture of rare-earth permanent magnets. Lynas Corporation of Australia is currently the world’s largest non-China producer of magnet metal rare earth oxides from its facility in Malaysia. Pensana is looking to commence development of its Longorio mine in Angola in the first quarter of 2020 and bring it online as the first major rare earth mine in over a decade. It is being established to international standards as one of the world’s most sustainable rare earth mines, says the company.
The industrial park is a cluster of chemicals and renewable energy businesses including BP Petrochemicals, Ineos, Nippon Gohsei and Air Products, strategically located on the Humber estuary, a gateway to Europe and the UK’s busiest ports complex. It is located on the northeast coast of England near Hull.
Pensana is based in London, UK and is listed on the main board of the LSE. For more info, see www.pensana.co.uk.