Pensana Rare Earths has appointed the Wood Group to undertake a study into the establishment of an integrated rare earth processing facility in the UK. This is to create the world’s first sustainable magnet metal supply chain.
Having progressed the design of the Longonjo project in Angola 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.
Following the recent resource upgrade, the Longonjo project is now one of the world’s largest known rare earth resources. In terms of scale, 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.
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.
The project is being developed to international standards, has established infrastructure, including the capacity to receive power through hydro-electricity, making Longonjo one of the world’s most sustainable rare earth producers.
Pensana is focused on this broader context and 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. The study will take approximately three months to complete.
The Wood Group Study will look at the first and most important step in creating a sustainable mine to magnet supply chain and that is establishing rare earth processing capability in the UK,” Atherley concludes.
