REG-Pensana Plc: Pensana awarded Sustainability Gold by EcoVadis

PensanaAnnouncement

30/07/2024 07:15

THIS ANNOUNCEMENT CONTAINS INSIDER INFORMATION

 

Pensana Plc

("Pensana" or the "Company")

 

Pensana awarded Sustainability Gold by EcoVadis

 


 

Pensana (PRE.L) is pleased to announce that it has been awarded a Gold Medal
by EcoVadis, a leading sustainability ratings provider, placing it among the
top 5% of the companies assessed.

The ratings by EcoVadis are widely used by the automotive and offshore wind
OEMs to monitor the ESG credentials of potential suppliers and are based on a
detailed assessment of operations in the areas of environment, sustainability,
procurement, labour and human rights and ethics.

The award follows the award by S&P Bond Rating Agency CICERO in 2022 which
rated the Company’s operations as Light Green with Good Governance.

Tim George, Pensana CEO, commented: “We have strong demand for our rare
earth products and this recognition from EcoVadis emphasises the very high
standards of sustainability our customers can rely on from us.

The award represents the culmination of the strong focus on sustainability by
the Pensana team notably Danny McNeice (Sustainability Manager), Magu Adriano
(Social and RAP Manager), Benedito Dumbo (Longonjo Site Manager) and Henda
Guimarães (Environment Coordinator).

Angola was one of the biggest gainers in the recently published Fraser
Institute’s annual survey of mining jurisdictions attractiveness and a big
part of this re-rating was the supportive fiscal terms and the excellent
infrastructure which each play their part in achieving high levels of
sustainability.

We are also extremely appreciative for the ongoing support from the Angolan
Sovereign Wealth Fund and are aiming to build on this support by making Angola
one of the world’s most sustainable suppliers of rare earths.”

Pensana will continue to operate under the EcoVadis tracking and reporting
system, as leadership in global sustainability is critical to our long-term
growth strategy.

Pensana’s Blueprint for Sustainable Rare Earths, demonstrating our strategic
commitment to ESG, can be found here
(https://pensana.co.uk/wp-content/uploads/2022/09/Pensana_Blueprint_for_Sustainable_Rare_Earths.pdf).

About Longonjo

The electrification of motive power through EVs and Wind Turbines is the
biggest energy transition in history and is forecast to generate a demand
growth for magnet metal NdPr of 7.5% CAGR over the next decade.
 
Pensana owns one of the world's largest undeveloped rare earth mines, and one
of only three with a JORC Reserve >100,000 tonnes of NdPr.
 
At full production Longonjo will produce ~5% of world production of NdPr in
the form of an exported mixed rare earth carbonate.
 
The upfront capital cost of US$217 million for the fully permitted mine and
processing facilities is amongst the lowest amongst its peers making Pensana
highly competitive.
 
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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