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Major rare earth firm scraps plans for £190m UK plant in favour of US
Britain's hopes of breaking free from Chinese dependence to become a critical minerals superpower were dashed yesterday when plans for a rare earth refinery were axed. UK-listed firm Pensana had planned to build the £190million Saltend site near Hull, employing 126 people, to process raw materials used in technologies such as electric cars and wind turbines. But the prospect of huge subsidies from Donald Trump's administration prompted it to ditch the idea and move its refining operations to the US. Pensana's founder and chairman Paul Atherley told the Daily Mail: 'The Treasury doesn't appear to be able to offer the ... (full story)
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- Oct 16, 2025 9:30pm Posted byFundamental Analysis216
