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Pensana cancels UK rare earths project for U.S. facility due to lack of UK support.
Pensana PLC has abandoned its £250 million rare earths refinery project in Yorkshire, UK, citing insufficient government and capital market support, and will instead develop a similar facility in the United States.
The company, which began construction in 2022 at Saltend Chemicals Park, aims to process rare earths from its Angola mine and third-party sources to supply electric vehicles and wind turbines.
It is now partnering with U.S. firms and seeking funding from the U.S. government, which has shown strong interest in domestic rare earth production.
Pensana plans a Nasdaq listing and is advancing a lithium project in the Tees Valley, while maintaining optimism about the UK’s critical minerals potential.
Pensana cancela el proyecto de tierras raras del Reino Unido para las instalaciones estadounidenses debido a la falta de apoyo del Reino Unido.