(Alliance News) - Pensana PLC on Monday said that Chair Paul Atherley met with Nusrat Ghani, the UK's minister of state at the Department for Business & Trade.
The London-based rare earths explorer said the two discussed potential UK and US government support for the Saltend project, a rare earth separation facility in England.
The company said a successful development of the USD250 million Saltend project "would be an important step in supporting the UK automotive supply chain, which employs over 780,000 people, as it transitions to electric vehicles."
It added that Ghani assured Pensana that the project was strategically important for the UK and that support would be raised during talks with Under Secretary Jose Fernandez during mineral security partnership discussions.
Pensana shares were 1.1% higher at 29.00 pence each on Monday afternoon in London.
By Tom Budszus, Alliance News reporter
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Pensana Plc (PRE)