Pensana Plc Publication of Annual Report & Notice of AGM

 
TIDMPRE 
 
28 October 2022 
 
                                  Pensana Plc 
 
                         ("Pensana" or the "Company") 
 
     Publication of Annual Report 2022 and Notice of Annual General Meeting 
 
Pensana is pleased to advise that the Annual Report for the year ended 30 June 
2022 has been published on the Company's website https://pensana.co.uk/ 
Company-Reports/ 
 
The Notice of Annual General Meeting and Form of Proxy will be published on the 
Company's website and will be posted to shareholders on or about 8 November 
2022. 
 
A copy of the Annual Report will also shortly be available on the National 
Storage Mechanism under the following link - https://data.fca.org.uk/#/nsm/ 
nationalstoragemechanism 
 
- ENDS - 
 
For further information, please contact: 
 
Shareholder/analyst enquiries: 
 
Pensana Plc 
 
Paul Atherley, 
Chairman 
[e-mail] 
 
Tim George, Chief Executive Officer 
 
Rob Kaplan, Chief Financial Officer 
 
George Zacharias, Group Company Secretary 
 
Media enquiries: 
 
FGS Global: 
 
Gordon Simpson / Richard Crowley 
[e-mail] 
 
About Pensana Plc 
 
The electrification of motive power is the most important part of the energy 
transition if we are to tackle climate change and one of the biggest energy 
transitions in history. Magnet metal rare earths are central to that 
transition, forming a critical part of the technology for efficient electric 
vehicle motors and offshore wind turbines. 
 
Pensana plans to establish its Saltend processing hub as an independent and 
sustainable supplier of the key rare earth magnet metal oxides to a market 
which is currently dominated by China. 
 
The US$195 million Saltend facility is being designed to produce circa 12,500 
tonnes per annum of rare earth products, of which 4,500 tonnes will be 
neodymium and praseodymium oxide (NdPrO), representing over 5% of the world 
market in 2025. 
 
Pensana's plug-and-play facility is located within the world-class Saltend 
Chemicals Park, a cluster of leading chemicals and renewable energy businesses 
in the Humber Freeport and will create over 500 jobs during construction and 
over 125 direct jobs once in production. 
 
Powered by low-carbon offshore wind, it will be the first major separation 
facility to be established in over a decade and will become one of the few 
major producers located outside China. 
 
Feedstock will be shipped as a clean, high purity mixed rare earth sulphate 
(MRES) from the Company's Longonjo low-impact operations in Angola. The mine's 
state-of-the-art concentrator and proprietary MRES processing plant are 
designed by Wood to the highest international standards. 
 
The operations will be powered by renewable energy from hydroelectric power and 
connected to the Port of Lobito by the recently upgraded Benguela railway line. 
 
Pensana believes 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 addressing the energy transition. 
 
Pensana is also aiming to establish Saltend as an attractive alternative to 
mining houses that 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 
 
 
 
END 
 
 

(END) Dow Jones Newswires

October 28, 2022 02:00 ET (06:00 GMT)