Ann: Study into establishing UK based Rare Earth processing facil, page-3

Mine to Magnet full value added does not get much better


Pensana Rare Earths Plc (LSERE, ASXM8) has appointed the Wood Group to
undertake a study into the establishment of an integrated rare earth processing
facility in the UK (“the Wood Group Study”) with a view to creating the world’s
first sustainable magnet metal supply chain.
Having progressed the design of the Longonjo project to include the production of a
mixed rare earth carbonate, Pensana now has a unique opportunity to explore the
potential for it to make one further step downstream and to create additional value
by establishing a rare earth oxide production facility in the UK.
By linking a mid‐stream magnet metal supply with downstream magnet
manufacturing capacity there is the potential to create a sustainable magnet metal
supply chain at a time of increasing concern over the provenance of these critical
metals for the electric vehicle (“EV”) and Offshore Wind Turbine industries.
Following the recent resource upgrade, the Longonjo project is now one of the
world’s largest known rare earth resources. To give a sense of scale, the Longonjo
project could, together with the UK processing facility, produce enough rare earth
oxide to supply the wind turbines at Dogger Bank, projected to be the world’s
biggest wind farm, for the next 20 years.
Located 130 km (80 miles) off the Yorkshire