REG-Pensana Plc: Longonjo Main Construction well underway

PensanaAnnouncement

Yesterday 07:02

 

 

 

14 January 2026

THIS                                                              ANNOUNCEMENT
                                                             CONTAINS         
                                                    INSIDE                    
                                         INFORMATION

 

Pensana Plc ("Pensana"                                                        
     or                                                              the      
                                                       "Company")

 

Longonjo Main Construction well underway

 

Pensana Plc (LSE: PRE) is pleased to provide an update on construction
activities at the Longonjo Rare Earths mine and processing facility in Angola.

Following conclusion of the early works programs funded by the Angolan
Sovereign Wealth Fund (FSDEA) during 2025, the main construction activities
are now well underway, on budget and with first production on target for
commissioning in 2027.

Tim George CEO commented:                                         "We are
delighted with the rapid progress on site as we construct and look to bring
one of the world's largest rare earth deposits into production next year. A
significant amount of design work has now been completed followed by the
efficient deployment of capital in establishing the site infrastructure. The
decision to construct the process plant on a modular basis is important as it
provides us with improved cost and delivery control. The team continues to
strive towards completion of the significant workstreams currently underway.
Whilst there is still much to do there is a growing sense of achievement as
the project rapidly emerges."

Pictures of the site construction activities are available on the Company's
website                                  www.pensana.co.uk

Highlights include:
*            Grupo Nov, the Angolan civil and earthworks company already
involved in the Longonjo early works program, has completed site preparation
and has commenced construction of the SRK designed Tailings Storage Facility
according to Global Industry Standards on Tailings Management,          
*            The concrete batching plant has been established to provide for
the civils and piling works required for the senior load bearing foundations
of major equipment items on the compacted process plant terrace area,         

*            NCP has completed fabrication of the 2 MW regrind circuit ball
mill which awaits delivery to site once foundations are complete during the
next quarter,          
*            Clark in Brazil has commenced construction of the 250
tonne-per-day modular sulphuric acid plant after the completion of the Hazard
and Operability Study review in late 2025,          
*            Procurement of all long lead items has been enabled to meet the
targeted construction and budget schedules post conclusion of the detailed
design processes by Lycopodium and Pro Process,          
*            Following procurement completion of the balance of the major
capital items including flotation columns, calciner, thickeners and
nano-filtration units, all detailed design and fabrication schedules remain on
track for delivery from the respective vendors,          
*            Additional plant storage and laydown areas have been completed
ahead of deliveries and installation due from mid-2026 onwards, and          
*            Regional government recognition and awards have been received for
the Company's positive economic and social impact, including community
outreach programmes guided by IFC and Equator Principles risk management
compliance.
 

Permanent power, potable water, wastewater treatment, telecommunications, and
site security infra-structure were installed and commissioned in 2025. This
infrastructure is now able to fully support the growing construction workforce
as the project executes the large-scale construction workstreams through 2026
under the leadership of Country Manager Geraldine Tchimbali.

Safety remains a core strength of the on-site team, underpinned by a
sustainability-led owner-operator approach and close collaboration with
quality engineering and delivery partners to reduce risk. The project
continues to follow a modular construction philosophy within the detailed
design process to maintain construction schedule certainty and reducing risk
associated with on-site implementation.

As the on-site workforce increases towards the peak of 750 on-site personnel,
the Company is actively encouraging integration with the surrounding community
through the use of local accommodation, services, and established transport
links to nearby towns.

About Pensana

Pensana is developing one of the world's largest and highest-grade magnet
metal rare earth deposits which will produce initially 20,000 tpa of a clean
high value MREC including both LREE and HREE. The plan is to expand production
to 40,000 tpa of MREC once initial operations have been established.

The Longonjo operation will extract, concentrate, calcine and chemically
refine the free dig material to produce a high-value MREC which will be railed
273km in containers to the Atlantic port of Lobito for export.

Pensana is looking to establish a world class fully integrated U.S.
Mine-to-magnet supply chain in partnership with eVAC magnetics South Carolina
with backing from U.S. Government.

The Longonjo rare earths deposit is located adjacent to the Lobito rail
Corridor approximately 60 km west of the provincial capital of Huambo in
central Angola.

The project currently under development comprises an open pit, concentrator
and recovery plants, tailings storage facility (designed to meet the
requirements of the Global Industry Standard on Tailings Management), process
water supply, bulk power supply, mine infrastructure, workshops, offices,
accommodation village, recreational facilities, and other associated
infrastructure.
The information contained within this announcement is considered by the
Company to constitute inside information as stipulated under the Market Abuse
Regulations (EU) No.596/2014. Upon the publication of this announcement via a
Regulatory Information Service, this inside information will be               
    considered                    to                    be                   
in                    the                    public                    domain.
                   The                    person                   
responsible                    for                    arranging               
    for                    the                    release                   
of                    this announcement on behalf of the Company is Paul
Atherley (Chairman).
-                               ENDS-

For                                                              further      
                                                       information,           
                                                  please                      
                                       contact:

Shareholder/analyst                                                           
  enquiries:

Pensana                                                              Plc

Paul Atherley, Chairman

IR@pensana.co.uk

Tim George, Chief Executive Officer

Rob                    Kaplan,                    Chief                   
Financial                    Officer

 



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