Industrial Metals News – Late October 2025
Estimated reading time 2 minutes
Pensana has ditched plans for a UK rare earths plant at Saltend Chemicals Park in the Humber Freeport, which was set to create 126 new jobs. The proposals were announced in 2022 as part of the government’s critical minerals strategy.
Britain’s hopes of becoming a critical minerals superpower have been dealt a severe blow after one of its leading companies abandoned its plans to build a rare earths refinery near Hull.
Pensana had pledged to build a £250m refinery on the banks of the Humber, to process rare earths that would have then been used to make magnets for electric cars and wind turbines. The plant promised to create 126 jobs and was due to receive millions of pounds of government funding.
The firm behind plans to reopen an historic Cornish tin and tungsten mine are to carry out further borehole drilling after recent tests proved successful.
Mine exploration and production company Strategic Minerals said traces of the minerals, including copper, were discovered during the tests using three drill holes at Redmoor – the first at the abandoned mine since 2019.
Data from the tests along with an ongoing relogging and sampling programme, are being used to compile a report on the economic case for reopening the mine.
