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Pensana PLC - London-based rare earth metal miner - Starts the construction of a rare earth processing hub in Yorkshire's Saltend.
Pensana aims for the USD195 million UK government-endorsed project to start production in late 2023 as the metal miner wants "to create the world’s first independent and sustainable rare earth supply chain." Full production capacity is expected to be achieved in 2024.
Construction work will take about 12 months and employ 450 people.
Current stock price: 68.90 pence, up 6.5% on Friday
12-month change: down 29%
By Tom Budszus; tombudszus@alliancenews.com
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