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(Wallace Refiners) – Pensana (LSE:PRE) announced today that site works commenced at the proposed world class rare earth separation facility located at Saltend Chemicals Park in the UK.
The company said that as soon as restrictions eased, team members from Pensana, pxGroup and Wood Plc moved quickly to get on the ground at the Saltend Chemicals Park and start site work to establish the world’s first sustainable rare earth separation facility.
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.
Chairman Paul Atherley said, “The works on-site at Saltend mark the early stage of delivering Pensana’s nationally significant rare earth separation facility, creating an independent, sustainable supply chain for magnet-critical industries like electric vehicles and offshore wind.”
The company added that it is aiming to produce c. 12,500 tonnes of rare earth oxides annually, including c. 4,500 tonnes of magnet metal rare earth oxides, representing approximately 5% of 2025 projected world demand. Pensana plans to source mixed rare earth sulphate from its state-of-the-art Longonjo mine in Angola.
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