RE: BFS in the morning?30 Oct 2020 07:25
6.1% wow! The BFS will be huge. UK government throwing so much cash at renewables as well. This has to be a win win. GLA and shave a great weekend.
With the expanded resource and the Bankable Feasibility Study ("BFS") designs to include the production of a rare earth carbonate, Pensana has identified a unique opportunity to explore the potential to make one further downstream step by establishing a rare earth oxide facility in the UK.
A mid-stream magnet metal supply linked to downstream magnet manufacturing capacity could create a sustainable magnet metal supply chain at a time of increasing concern of the provenance of these critical metals for the electric vehicle ("EV") and offshore wind turbine industries.
The study will focus on this broader context and take into account sustainable development when considering the preferred process route, location, capital and operating costs, financing arrangements and government incentives relating to the UK project. The study has received widespread interest and is expected to take approximately three months to complete.
Three sites are currently being evaluated at Merseyside, Humber and the Tees Valley. Preliminary investigations indicate that the reagents, skilled labour and power available at internationally competitive rates at each of these sites.
Two of the sites are located within enterprise zones which bring a range of incentives including available land, simplified planning approvals, a Single Conversation Group which brings together the all the relevant agencies for a smoother process, tax benefits in the form of enhanced capital allowances and other government incentives.
In particular there are grants available to companies that are involved in the renewable energy and low carbon sectors and their associated supply chains. More broadly there is strong government support for investments in the green economy with the strategy to build back better, build back greener and to build back faster.
Sign In
Follow the stocks
