The company looking to bring further advanced chemical engineering processes to the Humber has revealed strong results from explorations for the future plant’s feedstocks.
Pensana Rare Earths wants to bring the first stage of a magnet metal supply chain to Saltend, with wind turbines and electric vehicles burgeoning markets for an until now Chinese-controlled manufacturing process.
A £100 million investment could create 100 jobs, with speed of the essence as mining comes inline in Angola.
It is gearing up in the African nation in Longonjo, and now first results from a 7,500 sq km Coola project have been lapped up, with reports of high-grade rare earths.
Chief operating officer Dave Hammond said: “These high-grade rare earth assays are a great start, from what is only the first of several exploration targets for critical technology metals identified within the new Coola project.
“Results confirm a rare earth mineralized carbonatite at Coola that is now sufficiently well-defined for drill testing.
“Drilling will also determine if rare earth mineralised carbonatite lies beneath the soil cover in the central part of the one kilometre diameter volcanic pipe.”
Follow-up drilling is anticipated in 2021.
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It comes as the London Stock Exchange listed entity welcomed Grant Hayward as exploration manager.
He is described as an accomplished economic geologist and manager with extensive experience in the exploration for and evaluation of rare earth and associated commodities. He has been involved with the evaluation of carbonatites in several African countries.
Mr Hammond said: “Grant was on site at Longonjo recently to supervise the bulk sample drilling programme and is exceptionally well qualified to lead the geological team in Longonjo development works and Coola exploration going forward.
“It is great to have Grant join us and lead the team going forward with his extensive experience in the evaluation of rare earth deposits and a whole range of other commodities.”
Work is set to start on the Longonjo mine in the first quarter of 2021.
Pensana, first off the rank in Angola, was granted a 35-year mining licence earlier this year.
By late 2021 the team wants to be on the ground at Saltend, with the first half earmarked for the planning process.