Pensana PLC Annual General Meeting - Chairman's Presentation
01 December 2022
1 December 2022
("Pensana" or the "Company")
Annual General Meeting - Chairman's Presentation
Pensana is please to advise that the presentation slides from
the Chairman's presentation at the Company's Annual General
Meeting, held earlier today, have been published on the Company's
website www.pensana.co.uk .
- ENDS -
For further information, please contact:
Paul Atherley, Chairman IR@pensana.co.uk
Tim George, Chief Executive Officer
Rob Kaplan, Chief Financial Officer
George Zacharias, Group Company Secretary
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
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
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.
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(END) Dow Jones Newswires
December 01, 2022 06:45 ET (11:45 GMT)
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