Pensana considers establishing rare earths production facility in the UK
2020-10-14 14:33:10 [Print]
Australia's Pensana Rare Earths has tasked the Wood Group to undertake a study into the establishment of an integrated rare earth processing facility in the UK.
With the company having progressed the design of its Longonjo rare earths project, in Angola, to include the production of a mixed rare earth carbonate, Pensana has a unique opportunity to create additional value by establishing a rare earth oxide production facility in the UK.
The Wood Group study will take into account sustainable development when considering the process route, preferred location, capital and operating costs, financing arrangements and government incentives relating to the UK project.
Following a recent resource upgrade, the Longonjo project is now one of the world's largest known rare earth resources. With Presidential approval and ongoing financial backing from the Angolan Sovereign Wealth Fund, Pensana's Longonjo project is well-placed to become the first producing major rare-earth mine in over a decade at a time of burgeoning demand for these critical metals.
With the company having progressed the design of its Longonjo rare earths project, in Angola, to include the production of a mixed rare earth carbonate, Pensana has a unique opportunity to create additional value by establishing a rare earth oxide production facility in the UK.
The Wood Group study will take into account sustainable development when considering the process route, preferred location, capital and operating costs, financing arrangements and government incentives relating to the UK project.
Following a recent resource upgrade, the Longonjo project is now one of the world's largest known rare earth resources. With Presidential approval and ongoing financial backing from the Angolan Sovereign Wealth Fund, Pensana's Longonjo project is well-placed to become the first producing major rare-earth mine in over a decade at a time of burgeoning demand for these critical metals.
