Australian firm to process Angolan rare earths in Britain

Pensana Rare Earths Plc of Australia has asked for permission to build in northern England’s Yorkshire a US$125 million plant for processing rare earths, which would be the first in Britain.

The company told the London Stock Exchange that the rare earth oxide separation facility would process minerals from a mine in Longonjo, in central Angola.

Some 100 tonnes of minerals from Longonjo are being shipped through the central Angolan port of Lobito to the Pensana test facilities in the southwestern Australian city of Perth, Pensana told the stock market.

In July Pensana told the Australian Securities Exchange that it was starting negotiations about giving state-owned China Great Wall Industry Corp. the engineering, procurement and construction contract for the Longonjo mine, and that it wouldseek financing for the work from commercial banks in China, to be insured by state-owned China Export and Credit Insurance Corp.