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'You can't win every investment,' says Reeves - as company axes plans to build plant in UK
Posted
October 16, 2025
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8:49Now PlayingThe chancellor has pushed back following the decision by a major company to axe plans to build a £250m rare earths plant in the UK.
Our economics and data editor, Ed Conway, exclusively revealed this morning that Pensana has axed plans to build the site on the banks of the Humber in Hull.
It would have been used to process rare earths that would have been used to make magnets for electric cars and wind turbines.
#economy #business #politics
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