28 October 2022
Pensana Plc
("Pensana" or the
"Company")
Publication
of Annual Report 2022 and Notice of Annual General Meeting
Pensana is pleased to advise that the Annual Report for the year
ended 30 June 2022 has been published
on the Company’s
website https://pensana.co.uk/Company-Reports/
The Notice of Annual General Meeting and Form of Proxy will be
published on the Company’s website and will be posted
to shareholders on or about 8 November
2022.
A copy of the Annual Report will also shortly be available on
the National Storage Mechanism under the following link
- https://data.fca.org.uk/#/nsm/nationalstoragemechanism
- ENDS –
For further information, please
contact:
Shareholder/analyst enquiries:
Pensana
Plc
Paul Atherley,
Chairman
IR@pensana.co.uk
Tim George, Chief Executive
Officer
Rob Kaplan, Chief Financial
Officer
George Zacharias, Group Company
Secretary
Media enquiries:
FGS Global:
Gordon Simpson / Richard
Crowley
Pensana-LON@fgsglobal.com
About Pensana Plc
The electrification of motive power is the most important part
of the energy transition if we are to tackle climate change and one
of the biggest energy transitions in history. Magnet metal rare
earths are central to that transition, forming a critical part of
the technology for efficient electric vehicle motors and offshore
wind turbines.
Pensana plans to establish its Saltend processing hub as an
independent and sustainable supplier of the key rare earth magnet
metal oxides to a market which is currently dominated by
China.
The US$195 million Saltend
facility is being designed to produce circa 12,500 tonnes per annum
of rare earth products, of which 4,500 tonnes will be neodymium and
praseodymium oxide (NdPrO), representing over 5% of the world
market in 2025.
Pensana’s plug-and-play facility is located within the
world-class Saltend Chemicals Park, a cluster of leading chemicals
and renewable energy businesses in the Humber Freeport and will
create over 500 jobs during construction and over 125 direct jobs
once in production.
Powered by low-carbon offshore wind, it will be the first major
separation facility to be established in over a decade and will
become one of the few major producers located outside China.
Feedstock will be shipped as a clean, high purity mixed rare
earth sulphate (MRES) from the Company’s Longonjo low-impact
operations in Angola. The mine's
state-of-the-art concentrator and proprietary MRES processing plant
are designed by Wood to the highest international standards.
The operations will be powered by renewable energy from
hydroelectric power and connected to the Port of Lobito by the
recently upgraded Benguela railway line.
Pensana believes that provenance of critical rare earth
materials supply, life cycle analysis and GHG Scope 1, 2 and 3
emissions will all become significant factors in supply chains for
major customers.
The Company intends to offer customers an independently and
sustainably sourced supply of the metal oxides and carbonates of
increasing importance to a range of applications central to
addressing the energy transition.
Pensana is also aiming to establish Saltend as an attractive
alternative to mining houses that may otherwise be limited to
selling their products to China,
having designed the facility to be easily adapted to cater for a
range of rare earth feedstocks.
www.pensana.co.uk