Pensana PLC Company Update Presentation, Indaba, Cape Town
May 09 2022 - 1:10PM
RNS Non-Regulatory
TIDMPRE
Pensana PLC
09 May 2022
9 May 2022
Pensana Plc
( "Pensana" or the "Company" )
Company Update Presentation, Indaba, Cape Town , May 2022
Pensana is pleased to advise that Chairman, Paul Atherley, will
be presenting a company update during the Investing in African
Mining Indaba, to be held in Cape Town from 9 to 12 May 2022. The
presentation slides have been published on the Company's website
www.pensana.co.uk .
ENDS
For further information, please contact:
Shareholder/analyst enquiries:
Pensana Plc
Paul Atherley, Chairman IR@pensana.co.uk
Tim George, Chief Executive Officer
Rob Kaplan, Chief Financial Officer
Virginia Skroski, Head of Investor Relations &
Communications
Media enquiries:
Finsbury Glover Hering:
Gordon Simpson / Richard Crowley Pensana-LON@finsbury.com
About Pensana plc
The electrification of motive power is the most important part
of the energy transition and one of the biggest energy transitions
in history. Magnet metals are central to the transition and
critical to high value manufacturing applications such as electric
vehicles and offshore wind turbines.
Pensana plans to establish Saltend as an independent,
sustainable supplier of the key magnet metal oxides to a market
which is currently dominated by China. The US$194 million Saltend
facility is being designed to produce circa 12,500 tonnes per annum
of rare earth oxides, of which 4,500 tonnes will be neodymium and
praseodymium (NdPr), representing circa 5% of the world market in
2025.
The Saltend facility is located within the world class Saltend
Chemicals Park, a cluster of leading chemicals and renewable energy
businesses at the heart of the UK's energy estuary, and host to a
range of companies including BP Petrochemicals technology, INEOS,
Air Products, Triton Power, Nippon Gohsei and Tricoya.
Pensana's plug and play facility will create over 500 jobs
during construction and over 125 direct jobs once in production. It
will be the first major separation facility to be established in
over a decade and will become one of only three major producers
located outside China.
Initial feedstock will be shipped as a clean, high purity mixed
rare earth sulphate (MRES) from the Company's Longonjo low impact
operations in Angola. A state-of-the-art concentrator and MRES
processing plant are being designed by Wood to the highest
international standards. They will be powered by minimal carbon
hydro-electric power and connected to the Port of Lobito by the
recently upgraded Benguela railway line.
Pensana is of the view that provenance of critical rare earth
materials supply, life cycle analysis and GHG Scope 1, 2 and 3
emissions will all become significant factors in supply chains for
major customers. The Company intends to offer customers an
independently and sustainably sourced supply of the metal oxides
and carbonates of increasing importance to a range of applications
central to the energy transition, industrial, medical, military and
communications sectors.
For many miners around the world who are looking to access the
European and US supply chains, it is becoming increasingly clear
that the proposed EU and possible UK carbon border taxation would
mean that it is no longer acceptable for manufacturers to source
material extracted or processed unsustainably.
Pensana is aiming to establish Saltend as an attractive
alternative to mining houses who may otherwise be limited to
selling their products to China, having designed the facility to be
easily adapted to cater for a range of rare earth feedstocks.
www.pensana.co.uk
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