Pensana Rare Earths PLC - operator of rare earths project in Angola - Notes selection Saltend Chemicals Park in the Humber local enterprise partnership as proposed site to build the UK's first rare earth processing facility.
"The Saltend Chemicals Park offers an exceptional range of services allowing us to plug into power, water, reagent supplies and services and to recruit a highly skilled local workforce at internationally competitive rates," said Chair Paul Atherley.
"The Saltend facility has the potential to become a world class producer of rare earth oxides and to help establish a sustainable supply chain for the manufacture of powerful permanent magnets critical for the offshore wind and electric vehicle industries in the UK and Europe," Atherley added.
Current stock price: 70.40 pence
Year-to-date change: up sharply from 27.00p at July 6
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Pensana Plc (PRE)