Planning secured for larger rare earth refinery facility at chemicals park
Pensana has confirmed its planning application for a larger rare earth refinery site at Saltend Chemicals Park, near Hull, has been approved by East Riding Council.
The company’s £150m Saltend project will create 450 jobs during construction and 125 full-time jobs afterwards. It is designed to play an important part in reducing the UK’s reliance on critical mineral imports from China.
The business’s chief commercial officer, William Izod, told East Riding councillors that 90% of the world’s magnets are currently produced in China, and this country’s near monopoly could result in it dictating prices and limiting exports.
Electric cars need roughly one kilogram of magnet, while a 260-metre wind turbine can use seven tonnes.
The Sunday Times has recently reported that £4m of taxpayers’ money from the Automotive Transformation Fund would be granted to the project by Business Secretary Kwasi Kwarteng.
Pensana chairman, Paul Atherley, said: “We are delighted that the strategic importance of Pensana’s Saltend facility has been recognised by East Riding Council, and that the planning application for a larger site has been approved.
“This will bring high-value jobs to the local area and allow us to expand further into downstream production, as part of our plans to create a world-class, independent, and sustainable supply of rare earth metals for electric vehicles, offshore wind and other strategic industries.”
Saltend Chemicals Park is owned by px Group and is a 370-acre cluster of chemical and renewable energy businesses including BP Petrochemicals, Ineos, Nippon Gohsei and Air Products.
