The Foreign Policy Research Institute (FPRI), a US headquartered think tank, has named Pensana among the companies and developments critical to creating a sustainable global rare earth supply chain independent of China.
The FPRI essay, titled America’s Critical Strategic Vulnerability: Rare Earth Elements, says that China’s dominance over global critical mineral supply chains presents one of the largest strategic vulnerabilities to the United States and its allies since the Arab oil embargo-triggered energy security crisis of the 1970s.
The essay states: ‘There are currently 16 UK mineral corporations exploring rare earths and refined metals expansion, including larger corporations like Glencore, Rio Tinto, and Broken Hill Propriety (BHP).
Mining revival in the UK has become a hot issue of policy, with parliamentary debates highlighting the significance of REEs to the economy. Mineral corporation Pensana recently won a bid to build mineral extraction plants in Angola, the first British-affiliated REE facility scheduled for operation in a decade.
The establishment of this facility aligns well with US foreign policy, and Africa has quickly become a priority destination for critical mineral extraction.’
Pensana’s Chairman Paul Atherley said:
“We welcome FPRI’s recognition of how crucial Pensana’s projects are to developing a sustainable global rare earth supply chain.
As the essay explains, our Saltend facility in Humber and Longonjo project in Angola align well to US policy making.
“They also support UK Government ambitions to bring high value manufacturing jobs back to Britain and develop in-country manufacturing in support of the burgeoning green economy.”