REG-Pensana Plc: Main Construction Commences at Longonjo

PensanaAnnouncement

19/05/2025 07:02

THIS ANNOUNCEMENT CONTAINS INSIDER INFORMATION

Pensana Plc (PRE.LSE)

("Pensana" or the "Company")

Main Construction Commences at Longonjo

Pensana (PRE.LSE) is pleased to announce that following FSDEA's deployment of
US$25 million mine finance main construction activities have begun on site.

The project team, under the leadership of Project Director Kevin Botha, a
South African project management professional with over 45 years' experience
has initiated the key procurement and engineering contracts. Engineering
service providers, Pro-Process and ADP (Lycopodium RSA) have been formally
appointed and have commenced activities.

The preparatory site works completed earlier this year has enabled a
streamlined construction program. The main contractor Grupo Nov has been
mobilized and is expanding its workforce to over 100 on-site personnel with
additional earth-moving equipment en-route to complete the terracing in the
production plant area.

Tim George, Chief Executive Officer of Pensana, commented:

"The commencement of main construction activities is a pivotal moment for the
project which has been six years in the making. Early momentum has been
established under the leadership of our on-site team headed by (Country
Manager) Geraldine Tchimbali and (Site Service Manager) Benedito Dumbo and now
with the engineering and construction teams mobilised we are looking forward
to substantive progress over the coming weeks."

 


About the Project team
* MCC / Owners team is a leading project management team with a track record
of delivering projects across Africa including Angola.
* Pro-Process are hydrometallurgical specialists with expertise in delivering
modular process plants throughout Africa.
* ADP (Lycopodium) ADP African minerals specialist in detailed design
construction and commissioning of modular mineral processing plants with
extensive experience in Angola.
* Grupo Nov are Angola based specialists in design, construction and
management including engineering, environment, hydraulic works, rehabilitation
of buildings, dams and maritime works.
* SRK is a global firm specialising in geotechnical services for mining,
civil, and environmental projects. They focus on soil and rock behaviour to
support safe, efficient design of foundations, offering expert analysis and
practical solutions for complex ground conditions.
* Eriez is a global leader in separation technologies, renowned for its
advanced flotation systems. The flotation columns supplied will play a crucial
role in the beneficiation of rare earth elements, enabling efficient
separation and concentration of valuable minerals.
* MIP Global specializes in high-performance thickening solutions for the
mining and minerals processing industry. Their thickeners will be integral to
the dewatering process, ensuring optimal recovery of process water and
reducing environmental impact.
* BMS Engineers is known for its cutting-edge membrane technologies. The nano
filtration units will be used to purify process water and recover valuable
reagents, contributing to the sustainability and efficiency of the plant's
water management system.
* DryTech Holdings is a specialist in thermal processing equipment. The kiln
and cooler systems provided will be used in the thermal treatment of rare
earth concentrates, a critical step in enhancing material purity and preparing
feedstock for downstream processing.
* Clark Solutions brings extensive experience in the design and supply of acid
plants for industrial applications. The acid plant will support the
hydrometallurgical processing of rare earths, providing essential reagents for
leaching and separation processes.
* NCP International are specialists in the manufacture and supply of
comminution equipment to the mining industry.
 

About Longonjo

Pensana has spent over US$70 million over the past six years on exploration,
technical and environmental studies on the Longonjo rare earth project in the
Huambo district of Angola approximately 350 kilometres Southeast of the
capital Luanda.

The Company has successfully delineated a near surface JORC compliant reserve
of 22 million tonnes grading 3.04% TREO containing 139,457 tonnes of NdPrO
making it one of the world's largest and highest grade, undeveloped magnet
metal rare earth deposits with a mine life of over 20 years.

 

The electrification of motive power is arguably the biggest energy transition
in history and needs rare earths for permanent magnets.

 

Initial production will be 20,000 tonnes of a highly marketable clean MREC. A
proposed second phase expansion will see production increase to 40,000 tonnes
per annum of MREC representing around 5% of the world's production capable of
being converted into permanent magnets for electric vehicles and offshore wind
turbines.

 

The Company is committed to developing the Longonjo mine to the very best
international standards with the highest level of community engagement and
have published a blueprint for sustainable rare earth development which is
available on our website. Pensana_Blueprint_for_Sustainable_Rare_Earths.pdf
(https://pensana.co.uk/wp-content/uploads/2022/09/Pensana_Blueprint_for_Sustainable_Rare_Earths.pdf)

 

The team's efforts were recognised in 2022 when Pensana received green bond
assurance by S&P Green Bond Rating Agency CICERO and more recently, were
awarded a Gold Medal by EcoVadis, a leading sustainability ratings provider,
placing it among the top 5% of the companies assessed.

 

The NdPr products produced from the mine have the potential to displace up to
10 million tonnes of harmful greenhouse gas emissions over the life of mine,
through application in magnets in green technology such as wind turbines and
electric vehicles

 

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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