Pensana Rare Earths PLC - operator of rare earths project in Angola - Two studies are underway: A feasibility study into the production of mixed rare earth sulphate in Angola, and a study into the establishment of a UK-based processing facility to produce separated rare earth oxides.
Study into facility is expected to be reported in January 2021, while the start of construction of the initial infrastructure at the Longonjo project is set for the first quarter of 2021.
"The response to our announcement that we are looking to establish a UK based rare earth processing facility as a key part of a sustainable mine to magnet supply chain to supply the burgeoning EV and offshore wind industries has been overwhelmingly positive, and it's very clear already that the proposed investment would receive strong support across a wide range of stakeholders," said Chair Paul Atherley.
Current stock price: 75.00 pence
Year-to-date change: up sharply from 27.00p since July 6
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Pensana Plc (PRE)