Business
BFS Update
BFS Update.
About this update from Pensana Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3505F\n Pensana Rare Earths PLC\n 16 November 2020\n \n \n \n \n 16 November 2020\n \n \n \n \n \n Update on BFS and the establishment of a sustainable \n \n \n magnet metal supply chain \n \n \n \n \n \n Pensana Rare Earths Plc (LSE: PRE, ASX: PM8) is pleased to report on the progress the Company is making to bring Longonjo online as the first major rare earth mine in over a decade and in establishing a sustainable magnet metal supply chain to meet the burgeoning demand from the EV and Offshore Wind industries.\n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n Two studies are currently underway, a feasibility study into the production of a mixed rare earth sulphate in Angola, which is being undertaken by a number of internationally recognised consultants in Perth, Western Australia and the recently announced Wood Group study into the establishment of a UK-based processing facility to produce separated rare earth oxides.\n \n \n \n \n \n · \n The Longonjo mine and concentrator study is well advanced with the capital costs in line with the $130 million reported in the Preliminary Feasibility study in November 2019. \n \n \n \n \n \n · \n In March 2020 the scope of the studies was expanded to include the processing of the concentrate to produce a mixed rare earth carbonate (MREC), and in early October a high grade MREC was successfully produced. \n \n \n \n \n \n · \n Subsequent to this, a resin-based process route was developed which yields a high grade mixed rare earth sulphate, an ideal feedstock for the proposed UK separation facility. This innovative process route has the potential for lower capital and operating costs and is being actively pursued.\n \n \n \n \n \n · \n Project manager Paradigm Project Management has recently gone out with several equipment packages for quotation from suppliers and contractors in preparation for the commencement of construction\n of the initial infrastructure and bulk site services at the Longonjo Project\n in the first quarter 2021.\n \n \n \n \n \n \n · \n The Wood Group study into the establishment of a rare earth processing facility in the UK is well underway and is expected to be reported in January 2021. \n \n \n \n \n \n · \n The study has highlighted the internationally competitive power,...