TIDMPRE
RNS Number : 0988E
Pensana PLC
26 October 2022
26 October 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Pensana Plc
("Pensana" or the "Company")
Operational Update for Saltend and Longonjo Operations
Pensana is pleased to publish the following Operational
Update:
Following the recent ground-breaking ceremony, the Project
Delivery Teams for each of Saltend and Longonjo projects have been
finalising the detailed construction and fabrication specifications
for all critical path items across each of the operations in order
to maintain the planned construction and execution schedule.
Saltend
The Company has taken occupation of the Reedmere site and Wood
has taken on the role of Principal Designer and Principal
Contractor.
Wood has finalised the Process Design, optimised the Site Layout
Plan and has increased its multi-discipline engineering team to 65
people which is implementing the long lead time packages
including:
-- FRP Settlers
-- Agitators (Mixer Pumpers)
-- FRP Tanks
-- Bagging Units
-- Scrubbers
Wood has mobilised its early construction management team and
appointed the early enabling works contracts for site preparation,
pioneering facilities, security and the third party works by
Yorkshire Water.
Over-the-fence service packages being supplied by px Engineering
which include tie-ins to power, water, steam, compressed air and
effluent are underway.
Longonjo
The Wood RSA and Owners Team complement now stands at 50.
Orders have been placed for the fabrication and delivery of the
following long lead time items;
-- tailings storage facility
-- power supply and substation
-- acid plant
-- calciner & dryers
-- flotation plant
-- reagents handling
-- comminution circuit
-- thickeners
-- earthworks & civils
-- filters & nano filtration
-- potable water supply
Fabrication of the construction camp and associated
infrastructure upgrades required to the existing exploration camp
(water, power, sewerage) is underway.
ESG
All workstreams supporting the Saltend operations environmental
approval are completed.
Compensation agreements for the subsistence agricultural
activities displaced by the early works areas in Longonjo have been
concluded. Livelihood restoration activities within the mining
licence are taking shape with the commencement of trial farming
plots to assess yield improvement towards providing a sustainable
local food supply to the Longonjo operations workforce.
Operational readiness
Recruitment of key operational personnel for both Saltend and
Longonjo is underway with local agencies. This intention is for key
operators to be part of the construction process to assist them
moving seamlessly into commissioning.
Tim George CEO commented:
"Following the recent ground breaking ceremony we are delighted
to have moved out of the study phase and into the construction
phase for both projects. We now have a multi-disciplinary team of
over 120 engineers working across both projects.
Our Project Delivery Teams led by Hamish Westwater for Saltend
and Kevin Botha for Longonjo are working closely with our main
contractors on the long lead items and the other preparatory work
ahead of the main construction.
Both projects are fully permitted, operationally robust with
fit-for-purpose technical solutions for both Angola and the UK. The
value engineering exercise we undertook early this year has given
us confidence that we can maintain the overall project time line
and budget in an environment of significant inflationary
pressure.
We look forward to providing regular updates on the progress of
the construction from both projects."
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
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
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