RCS - Pensana PLC - Company Update Presentation, Indaba, Cape Town

PensanaAnnouncement

09/05/2022 07:15

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RNS Number : 6928K  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 (http://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 (http://www.pensana.co.uk)

 

 

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