Pensana Plc

Angola's Government approves Joint Agreement with Africa Finance Corporation who are preparing to finance a further US$150 million into the country’s transport, logistics, energy and mining sectors. By joining AFC, Angola will gain access to a range of financial services and benefits, including project development, financial advisory, capital investment and improved private sector engagement. The membership is also expected to deepen bilateral cooperation with the AFC, and allow for revenue generation from each capital subscription in the AFC. The AFC has recently funded Angola’s Sonangol Cabinda refinery project with US$100 million and is preparing to finance further projects worth over US$150 million. AFC has previously been developing projects within Angola including the signing of the concession agreements with the Angolan government for the financing, construction, ownership and operation of the Lobito railway corridor in conjunction with the United States Government. The US Development Finance Corporation has recently invested US$ 533 million in the Lobito Atlantic railway upgrade, which coincided with the US$ 3.4 million technical assistance grant for Pensana. #Angola #lobito #rareearths #longonjo #criticalminerals #mining #magnetmetals

Zeus Capital mining analyst David Seers discusses Longonjo’s untapped geological potential with fellow geologist and Country Manager Geraldine Tchimbali. David Seers commented “Seeing Longonjo first hand was extremely impressive. The untapped geological potential and the exceptional connected infrastructure are two very significant aspects which any new mining project would wish for. I can see why the team is so excited about getting Longonjo into production and unlocking its full potential.” David, who has spent a large part of his career as an exploration geologist on many early-stage mining projects, highlighted the deeper drilling at Longonjo which has shown the potential for the carbonatite deposit to extend 150 metres immediately below the mine area. He was also keen to learn more about the mineralogical potential of the surrounding areas, especially on the Coola exploration licence which has shown encouraging early results. The visit highlighted the world class infrastructure along the Lobito corridor and the state-of-the-art facilities at the Port of Lobito container terminal both of which compare very favourably to many mining destinations around the world. #Angola #lobito #rareearths #longonjo #criticalminerals #mining #magnetmetals #minerology

Country Manager Geraldine Tchimbali speaks passionately about Longonjo’s socioeconomic benefits and the importance of promoting women in mining at the recent Conferência Cientìfica in Huambo.    Geraldine commented:   “It was an honour to speak about our project to our local stakeholders. It was great to have positive engagement and in particular to be able to speak directly with other women about my own experience of working and building a project in this sector.   The promotion of women in Angolan mining is a key priority, with initiatives designed to enhance female participation in both scientific and mining roles. By supporting gender equality and empowering women, the project aims to create a more balanced and inclusive mining sector that fosters innovation and drives community progress.”   The investment is one of the largest in the region and is expected to generate significant employment growth within the wider community. As the project ramps up a large number of employment opportunities have been created and these will grow to more than 420 full time, highly skilled jobs once operations reach full production. The experience globally is that for every job established on a mine site up to six further jobs are created within the local community. The project is also expected to create a very significant new demand for domestically supplied goods and services which will be given priority over imported equivalents wherever possible.  Training programmes are being established with a view to transferring skills to enable Angolan staff to take on senior management roles - with a target of 90% local employees. #Angola #rareearths #longonjo #criticalminerals #mining #magnetmetals

Country Manager Geraldine Tchimbali speaks passionately about Longonjo’s socioeconomic benefits and the importance of promoting women in mining at the recent Conferência Cientìfica in Huambo.    Geraldine commented:   “It was an honour to speak about our project to our local stakeholders. It was great to have positive engagement and in particular to be able to speak directly with other women about my own experience of working and building a project in this sector.   The promotion of women in Angolan mining is a key priority, with initiatives designed to enhance female participation in both scientific and mining roles. By supporting gender equality and empowering women, the project aims to create a more balanced and inclusive mining sector that fosters innovation and drives community progress.”   The investment is one of the largest in the region and is expected to generate significant employment growth within the wider community. As the project ramps up a large number of employment opportunities have been created and these will grow to more than 420 full time, highly skilled jobs once operations reach full production. The experience globally is that for every job established on a mine site up to six further jobs are created within the local community. The project is also expected to create a very significant new demand for domestically supplied goods and services which will be given priority over imported equivalents wherever possible.  Training programmes are being established with a view to transferring skills to enable Angolan staff to take on senior management roles - with a target of 90% local employees. #Angola #rareearths #longonjo #criticalminerals #mining #magnetmetals

Pensana is pleased to announce that it has been awarded a $US 3.4million Technical Assistance Grant by the US International DFC, America’s development finance institution. The grant will fund studies into the proposed $US100 million expansion of the Longonjo operations, doubling the capacity to 40,000 tonnes per year of MREC containing 4200 tonnes of NdPr. The grant will also fund studies into development of the recently discovered Coola deposits and potential downstream processing in Angola. Read more: https://bit.ly/3N0TpTK #rareearths #energytransition #sustainability #supplychain #longonjo #distribution #magnetmetals #criticalminerals #EVs #offshorewind #NdPr

Pensana has signed a non-binding Memorandum of Understanding with major Japanese trading group Hanwa. - Offtake for up to 20,000tpa of ultra-clean Mixed Rare Earth Carbonate from the Longonjo mine over 5 years. - Hanwa and Pensana to co-operate on marketing and distribution globally and on developing a strategic and sustainable supply chain for magnet metal materials. - Hanwa is considering a deeper cooperation with Pensana including an investment in both upstream and downstream projects with the aim of delivering low embedded carbon magnet metal materials to Hanwa’s customers and future partners. Hanwa will also consider providing financial support and to jointly study support opportunities from Governmental and financial institutions for the various Pensana projects. These include Coola and Sulima west expansion, the separation facilities and metallization project. Hanwa commented “We see this MOU as the path to finalisation of a long-term agreement between Pensana and Hanwa, ensuring high quality magnet metal products with leading ESG benefits are available to Hanwa’s Global customers.” Read full Announcement: https://bit.ly/4dSHe7n #rareearths #energytransition #sustainability #supplychain #longonjo #distribution #magnetmetals #criticalminerals #EVs #offshorewind #NdPr

350 person accommodation camp now completed ahead of main construction. Following site infrastructure development including the installation of effluent lines and power distribution, the assembly of the accommodation facilities has been completed by experienced African team Bushtec Originals. The accommodation facilities are designed to house 350 contractors and contains dining facilities, kitchen, ablutions and a communications hub, all constructed to international standards. Bushtec are the Global Specialists in Turnkey Military and Mining Camps and Medical Field Systems. They are specialists in the Design, Manufacture and Delivery of Integrated high-quality deployable camp systems. Tim George Pensana CEO commented “The establishment of the construction camp is a key step in preparing for the next phase of the Longonjo project. Under the leadership of Luigi Bruni, the team has made significant progress in setting up the site and necessary infrastructure, paving the way for the main construction phase." View Site Activities: https://bit.ly/3z0lA1E #Angola #rareearths #criticalminerals #EVs #longonjo #mining #energytransition

350 person accommodation camp now completed ahead of main construction. Following site infrastructure development including the installation of effluent lines and power distribution, the assembly of the accommodation facilities has been completed by experienced African team Bushtec Originals. The accommodation facilities are designed to house 350 contractors and contains dining facilities, kitchen, ablutions and a communications hub, all constructed to international standards. Bushtec are the Global Specialists in Turnkey Military and Mining Camps and Medical Field Systems. They are specialists in the Design, Manufacture and Delivery of Integrated high-quality deployable camp systems. Tim George Pensana CEO commented “The establishment of the construction camp is a key step in preparing for the next phase of the Longonjo project. Under the leadership of Luigi Bruni, the team has made significant progress in setting up the site and necessary infrastructure, paving the way for the main construction phase." View Site Activities: https://bit.ly/3z0lA1E #Angola #rareearths #criticalminerals #EVs #longonjo #mining #energytransition

Longonjo is one of the largest undeveloped rare earth projects globally and is in construction as Rare Earth prices rise off lows. Shanghai Metals Market NdPr oxide prices have risen over 11% in the last month to RMB404,500 (US$56,620) per tonne and are set to continue to rise after a period of sustained lows.   With quotas falling well short of the previous increase of 21.4% in 2023 the most recent rise of 5.9% in 2024 is seen as a tightening of quotas and prices have responded. For smelters in China these quotas are expected to restrict the material available to them for processing causing them to look towards non-chinese sources which are not governed by the quotas issued.  This is expected to increase the competitiveness of the MREC which will be produced at Longonjo. Read more about Pensana’s Longonjo Rare Earths Project: https://bit.ly/46ZDxKB #NdPr #Angola #rareearths #energytransition #criticalminerals #longonjo #mining #EVs #offshorewind #sustainability

UK Minister for Africa Lord Collins and UK Ambassador to Angola Roger Stringer met with Country Manager Geraldine Tchimbali and Pensana CEO Tim George during an inspection of the construction activities at Longonjo. This was the first Africa visit by Lord Collins following his recent appointment in July which included an audience with the President of Angola, His Excellency Joao Lourenco and a reception by the Governor of Huambo, His Excellency Pereira Alfredo ahead of the Longonjo site visit.  Lord Collins emphasised the new UK’s government support for partnerships which promote trade and economic growth. He noted the significance of the Longonjo project both to sustainable development within the local community and as a part of the broader growth being catalysed by the Lobito Atlantic Rail Corridor (LARC). The 50 strong delegation included community representatives from the Huambo Province highlighting the importance of this project to the region. These included the Vice Governor of Huambo Angelino Elavoco, LARC Operations Director Nicolas Gregoir, LARC Railway Director Vincent Phillip Smith and further representation from Huambo and the local community of Longonjo.  Longonjo is one of the world’s largest undeveloped resources of rare earths and will be one of the largest independent and sustainable suppliers of magnet metal rare earths vital for electric vehicles and offshore wind turbines. The project is being developed to the highest environmental standards and has recently been awarded a Gold Medal from EcoVadis, placing it amongst the top 5% of companies assessed for sustainability. #Angola #rareearths #energytransition #criticalminerals #longonjo #mining #EVs #windturbines #sustainability