REG-Pensana Plc: Major drill programme to increase Longonjo resource to over one billion tonnes

PensanaAnnouncement

17/11/2025 07:02

17 November 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Pensana Plc

("Pensana" or the "Company")

 

Major drill programme to increase Longonjo resource to over one billion tonnes

 

Pensana plc (LSE: PRE) is pleased to announce an US$11million drilling and
metallurgical testwork programme at the company's flagship Longonjo project in
Angola which is designed to increase the current Mineral Resource Estimate to
over one billion tonnes making it one of the world's largest rare earth
deposits ever developed.

 

The Longonjo deposit comprises a near-surface blanket of high-grade, NdPr-rich
total rare earth oxides ("TREO"), with an average depth of approximately 30
metres. Previous drilling has confirmed that the mineralisation continues to
well over 100 metres directly beneath the current resource indicating the
potential for substantially increasing resources with further drilling.

 

A 25,000-metre vertical core drilling programme has been planned which aims to
extend the existing JORC-compliant Mineral Resource Estimate from 313 million
tonnes at 1.43% TREO to over one billion tonnes at a similar grade.

 

Metallurgical sampling and testwork will be undertaken for mine planning and
processing optimisation. The programme is scheduled to commence early in the
new year with results released as they become available.

 

Paul Atherley Chairman commented:                                "Following
the recent announcement that China is looking to establish a major rare earth
processing hub to boost mining, refining and magnet production at the world's
largest rare earth mine at Bayan Obu in Inner Mongolia, further strengthening
China's position as the world's major producer, it is clear that large scale,
cost efficient, fully integrated supply chains are set to dominate the
industry.

 

We are fortunate that the style of mineralisation at Longonjo is known to have
very significant depth extensions and we are very confident that this
programme will rapidly deliver a substantial increase to our already
world-class resource inventory. Longonjo benefits from the ongoing
multi-billion dollar investments into the Lobito Corridor rail, hydro-electric
power and port facilities enabling it to rapidly scale up production to meet
the growing demand from the U.S.

 

Our recent partnership with eVAC to establish a world class integrated
mine-to-magnet supply chain in the U.S. will see Longonjo supply the recently
commissioned advanced magnetics facility at Sumter in South Carolina with
feedstock, initially to produce 2,000 tonnes of magnets rising to 12,000
tonnes per year in 2029, making eVAC one of the world's largest producers
underpinned by a world class long life resource base at Longonjo. This major
new fully integrated mine to magnet supply chain is expected to capture the
interest of major offtake partners looking to reduce their exposure to China's
export controls."

 

About Pensana

 

Pensana is focused on developing a mine-to-magnet rare earth supply chain to
support the growth of industries including robotics, artificial intelligence,
electrification and advanced manufacturing. Through strategic partnerships and
investment, the Company aims to provide the critical mineral resources
required by the United States and its allies to underpin industrial growth.

 

Pensana has spent 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 projected mine life of over 20 years.

 

The Phase 1 production will be 20,000 tonnes of a highly marketable clean
MREC. The proposed second phase expansion will see production increase to
40,000 tonnes of MREC per annum which would represent around 5% of the world's
production                      capable of being converted into permanent
magnets for electric vehicles and offshore wind turbines (based on current
reported global production).

 

The investment by Pensana in Longonjo is expected to generate hundreds of
local high value jobs, give work to many local businesses and, once in
production, will generate substantial fiscal returns for the Government of
Angola. The downstream development of the mine and processing facilities to a
mixed rare earth carbonate go beyond the conventional dig and ship approach.

 

The Company is committed to developing the Longonjo mine to the very best
international standards with the highest level of community engagement and has
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 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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