Pensana PLC Sunday Times picks Pensana as top stock for COP26
25 Outubro 2021 - 6:11AM
RNS Non-Regulatory
TIDMPRE
Pensana PLC
25 October 2021
25 October 2021
RNS REACH
Pensana Plc
("Pensana" or "the Company")
The Sunday Times selects Pensana as stock pick ahead of COP26
and 'EV boom'
Pensana has again been named a top stock ahead of COP26 as
published in The Sunday Times yesterday.
The article, titled Five shares you can buy to hitch a ride on
the EV boom, notes Saltend's globally unique location in a Freeport
and that the Company's GBP15m equity fundraising kickstarted early
works on site in June 2021, among other strengths.
Earlier this month, British investment bank Liberum also picked
Pensana as a top pick for COP26 and as one of three UK companies
that meet the climate leaders gold standard.
Pensana's Chairman, Paul Atherley, said: "The electrification of
motive power is the biggest energy transformation in history and is
dependent on the supply of powerful rare earth magnets which is
dominated by China.
Rare earth prices continue to rise and have pushed through
US$100,000 per tonne as the awareness grows that China is going to
need all of its magnet production for its $11 trillion Carbon
Neutral plan.
Building a rare earth processing hub in a Freeport in the UK
will be a major step in establishing an independent and sustainable
supply chain for these critical magnet metals."
The Sunday Times article can be read here:
https://www.thetimes.co.uk/article/five-shares-you-can-buy-to-hitch-a-ride-on-the-ev-boom-mx6vc97vp
For further information:
Pensana Plc
Website: www.pensana .co.uk
Paul Atherley, Chairman / Tim George, CEO contact@pensana.co.uk
About Pensana
The electrification of motive power is the most important part
of the energy transition and one of the biggest energy transitions
in history. Magnet metals are central to the transition and
critical to high value manufacturing applications such as electric
vehicles and offshore wind turbines.
Pensana plans to establish Saltend as an independent,
sustainable supplier of the key magnet metal oxides to a market
which is currently dominated by China. The US$125 million Saltend
facility is being designed to produce circa 12,500 tonnes per annum
of rare earth oxides, of which 4,500 tonnes will be neodymium and
praseodymium (NdPr), representing around 5% of the world market in
2025.
The Saltend facility is located within the world class Saltend
Chemicals Park, a cluster of leading chemicals and renewable energy
businesses at the heart of the UK's energy estuary, and host to a
range of companies including BP Petrochemicals technology, INEOS,
Air Products, Triton Power, Nippon Gohsei and Tricoya.
Pensana's plug and play facility will create over 500 jobs
during construction and over 100 direct jobs once in production. It
will be the first major separation facility to be established in
over a decade and will become one of only three major producers
located outside China.
Initial feedstock will be shipped as a clean, high purity mixed
rare earth sulphate (MRES) from the Company's Longonjo low impact
mine in Angola. The open-cast mine, state-of-the-art concentrator
and proprietary MRES processing plant are being designed by Wood to
the highest international standards. They will be powered by
minimal carbon hydro-electric power and connected to the Port of
Lobito by the recently upgraded Benguela railway line.
Pensana is of the view 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 the energy transition, industrial, medical, military and
communications sectors.
For many miners around the world who are looking to access the
European and US supply chains, it is becoming increasingly clear
that the proposed EU and possible UK carbon border taxation would
mean that it is no longer acceptable for manufacturers to source
material extracted or processed unsustainably.
Pensana is aiming to establish Saltend as an attractive
alternative to mining houses who 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.
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