Pensana PLC Pensana signs a MoU for 25% of production (4004B)
2022年10月3日 - 3:00PM
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RNS Number : 4004B
Pensana PLC
03 October 2022
3 October 2022
Pensana Plc
("Pensana" or the "Company")
Pensana signs a Memorandum of Understanding for 25% of
production
Pensana (PRE.L) has signed a memorandum of understanding for
offtake of 25% of annual production to supply critical raw
materials for production of magnet materials needed to support the
burgeoning demand for electric vehicles and offshore wind.
Pensana is extremely pleased to be entering into this strategic
relationship by supplying Rare Earth oxides from the Saltend
processing hub in the freeport Hull, we will continue to develop
the independent and sustainable supply chain for low carbon rare
earth products to be produced in Europe.
Pensana recently broke ground at the Saltend Chemical Park in
the Humber Freeport UK with high-value raw materials supplied from
the hydroelectric-powered state-of-the-art mine at Longonjo in
Angola.
Chairman Paul Atherley commented:
"This agreement represents a significant step forward in our
goal of providing an independent and sustainable supply of rare
earth magnets for the Electric Vehicle and offshore wind
industries. By having a significant partner across the globe, we
now have further validation from the industry that Pensana's
project is an essential element in the growing value chain for
these critical minerals.
We look forward to closely working with our partners and hope to
expand our relationship as our project progresses with the
introduction of Metal conversion and Heavy Rare earth separation at
our Saltend facility powered by offshore wind, offering ultra-low
embedded carbon products essential for the energy transition."
- 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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