Pensana plans to begin construction of a rare earth metal treatment plant at Hull Port this summer with the aim of starting operations by 2023. Rare earth metals are used in high-tech products such as smartphones and low carbon technologies such as wind power turbines and electric vehicles. However, Western countries depend on China for 90% of their supply.
Parliamentarians and security officials say this means Britain and its allies are potentially vulnerable and Beijing is more muscular on the international stage.
Pensana’s mineral separation facility will be built at the Salt End chemical plant with the aim of producing enough refined metals to meet 5% of global demand.
Proponents say it could be one of the largest rare earth metal processing plants in the world.
Paul Azalea, Chairman of Pensana, said the project will show how the West can break its dependence on China’s exports.
He told The Telegraph:
“It’s very exciting to bring this kind of manufacturing back to the UK and use the chemical engineering DNA that exists in Hamburg in the northeastern UK.”
Less Common Metals (LCM), a company specializing in rare earth elements, claims that it needs a stable, safe and competitive supply chain that is independent of the control of the Chinese government.
Without it, economies other than China would continue to struggle to maintain their own manufacturing capacity and work that relies on rare earth magnets.
In December, China strengthened its position in the market by integrating three state-owned enterprises, China Aluminum Co., Ltd., Chinamin Metals Co., Ltd. and Ganzhou Rare Earths Group.
A new supergroup called China Rare Earths is likened to an “aircraft carrier.” Analysts have warned that it will have an even greater impact on Beijing’s highs.
China’s state media also hinted that Beijing’s hanging could be armed during the rekindling of the trade war between China and the United States.
On Friday, a bipartisan law was introduced in the US Senate, forcing defense industry contractors to stop buying rare earths from China by 2026.
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Instead, the Pentagon creates a permanent stockpile of strategic minerals.
The bill is the latest legislation aimed at ending China’s control of the sector and restoring the country’s own rare earth production.
According to a feasibility report released by LCM in November, the UK can revive its own production of high-power magnets needed for electric vehicles, but mimics China’s centralized strategy to make it feasible. need to do it.
The magnet plant will help the UK reach its goal of banning gasoline and diesel vehicles by 2030 and achieving net zero carbon emissions by 2050.
In a recommendation to help establish the UK supply chain, LCM assists the government in selecting sites for UK facilities, confirms that there are no trade barriers in major export markets, and is low carbon. We sought to ensure access to competitively priced electricity.
Ian Higgins, CEO, told Reuters:
He added that a British magnet factory could be built by 2024, eventually producing 2,000 tons of rare earth magnets annually and supplying about one million electric vehicles.
Atherly said The Telegraph Pensana wants to get more customers from all over the world, starting with refining minerals shipped from a mine in Longonjo, Angola.
He has identified Europe, the United States, Japan and South Korea as potential partners. According to EU-sponsored reports, Europe imports about 16,000 tonnes of rare earth permanent magnets annually from China, which is about 98% of the market.
Atherly told The Telegraph that the West believes that the need to build these supply chains isn’t just about security.
He explained that China has its own environmental, technological and defensive goals and will need to consume large amounts of its own resources in the future.
“We’re spending $ 11 trillion on exactly what the rest of the world is spending, and we’ll need all the magnets we produce. The market has awakened to that,” he said.
“I used to go back to the UK. I used to import raw materials from all over the world, such as agricultural products, metals and cotton, and turn them into value-added products. Now I’m doing it again.”
Yorkshire Project Aiming to Break the Hanging of Rare Earth Elements in China | UK | News
SourceYorkshire Project Aiming to Break the Hanging of Rare Earth Elements in China | UK | News