Pensana Plc - Meeting with Minister Nusrat Ghani
16 Outubro 2023 - 3:00AM
PR Newswire (US)
THIS
ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Pensana
Plc
("Pensana"
or the "Company")
Meeting
with Minister Nusrat Ghani to discuss the potential UK and US
Government support for the Saltend project.
Pensana is
pleased to announce that Chairman Paul Atherley met recently
with Nusrat
Ghani, Minister of State at the Department for Business and Trade
and Cabinet Office, to discuss
the potential UK and US Government support for the Saltend
project.
The
meeting highlighted that the successful development of the US$250
million Saltend project would be an important step in supporting
the UK automotive supply chain, which employs over 780,000 people,
as it transitions to electric vehicles (EVs).
By 2030
the UK is expected to have transitioned from being a major European
producer of internal combustion engines to be a world leader in the
manufacture of electric drive
units (EDUs), producing three million EDUs annually, with a large
proportion destined for export. Without a secure magnet metal
supply chain this is under threat.
Pensana is
establishing an independent, sustainable rare earth supply chain
with mid-stream processing to produce magnet metal in the
UK.
The
Saltend project will deliver 450 jobs during construction and 150
high value jobs in operation with a significant opportunity for
further expansion. The facility is specifically designed to be
flexible allowing it to process
feedstock
from the Longonjo project in
Angola along with feedstock from other different
rare earth mining projects.
The
Minister assured Pensana that the project was of strategic
importance for the UK and that
support for
the project would be
raised during talks with Under Secretary Jose Fernandez during the
Mineral Security Partnership
discussions
held during the
London Metal Exchange (LME) Week.
Pensana
was previously nominated by the UK Government as a partner under
the recently announced Minerals Security Partnership (MSP) between
the US and its international allies.
The goal
of the MSP is to catalyse investment from the private sector and
key government partners for “strategic mining, processing, and
recycling opportunities that adhere to the highest environmental,
social, and governance (ESG) standards,” focused particularly on
the priority critical minerals needed for core technologies such as
electric vehicles and clean technologies.
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The
information contained within this announcement is considered by the
Company to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No.596/2014. Upon the publication of
this announcement via a Regulatory Information Service, this inside
information will be considered to be in the public domain. The
person responsible for arranging for the release of this
announcement on behalf of the Company is
Paul Atherley,
Chairman.
-
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
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