Business
Publication of Annual Report & Notice of AGM
Publication of Annual Report & Notice of AGM.
About this update from Pensana Plc
[{"type":"text","content":"\n \n 28 October 2022\n Pensana Plc\n (\"Pensana\" or the \"Company\")\n Publication of Annual Report 2022 and Notice of Annual General Meeting\n 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/\n 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.\n 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 \n - ENDS –\n For further information, please contact:\n Shareholder/analyst enquiries:\n Pensana Plc \n Paul Atherley, Chairman [email protected]\n Tim George, Chief Executive Officer\n Rob Kaplan, Chief Financial Officer\n George Zacharias, Group Company Secretary\n Media enquiries:\n FGS Global:\n Gordon Simpson / Richard Crowley [email protected]\n About Pensana Plc\n 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.\n 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.\n 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.\n 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.\n 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.\n Feedstock will be shipped as a clean, hi...