REG-Pensana Plc: U.S. EXIM debt funding to accelerate U.S. mine-to-magnet supply chain

PensanaAnnouncement

Yesterday 07:02

28 October 2025

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Pensana Plc

("Pensana" or the "Company")

 

U.S. EXIM debt funding

to accelerate U.S. mine-to-magnet supply chain

 

Pensana Plc is pleased to announce it is in advanced engagement with the
Export-Import Bank of the United States (“EXIM”) to accelerate the
Company's mine-to-magnet supply chain in the United States of America
(“U.S.”), supported by a Letter of Interest (“LOI”) to participate up
to 100% in the US$160 million debt funding of the Longonjo Rare Earth Mine
(“Longonjo”).

 

This announcement follows the recent signing of a Memorandum of Understanding
(“MOU”) with Vacuumschmelze GmbH & Co. KG (“VAC”), which includes a
proposed offtake of products from Longonjo to support the production by eVAC,
VAC’s recently commissioned Magnetics facility in Sumter, South Carolina.

 

The establishment of a mine-to-magnet Supply Chain in the U.S. qualifies
Longonjo for funding predicated upon the sale of rare earth products directly
into the U.S. as required under EXIM's Supply Chain Resiliency Initiative
(“SCRI”).

 

Pensana is constructing one of the world’s largest rare earth mines in the
Huambo district of Angola with production scheduled to commence by 2027 ahead
of U.S. Government restricting China imports. EXIM’s support for the
Longonjo mine is directly contributing to the resilience of U.S. defense
supply chains and the reindustrialisation of America’s high-tech
manufacturing base.

 

Paul Atherley, Chairman, Pensana commented:                               
“The support from EXIM for our partnership with eVAC to establish a U.S.
mine-to-magnet supply chain is both timely and deeply appreciated. EXIM’s
participation brings critical financing capacity that expands upon what is
available in commercial markets, helping to accelerate production to 2026 and
advance U.S. leadership in strategic materials.”

 

About EXIM

EXIM is the official export credit agency of the United States. EXIM is an
independent Executive Branch agency with a mission of supporting American jobs
by facilitating the export of U.S. goods and services.

 

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, advanced manufacturing and humanoid robots. Through strategic
partnerships and investment, the Company aims to provide the critical mineral
resources required by the US and its allies to underpin industrial growth.

 

Pensana has financed and is constructing one of the world’s largest rare
earth mines in the Huambo district of Angola approximately 350 kilometres
Southeast of the capital Luanda.

 

The US$217 million mine will produce 20,000 tonnes of a highly marketable
clean mixed rare earth carbonate (“MREC”) from early 2027. 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 (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 high
value mixed rare earth carbonate goes well beyond the conventional dig and
ship approach to mining in Africa, adding considerable value in country.

 

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                     
(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

 

 

 



Copyright (c) 2025 PR Newswire Association,LLC. All Rights Reserved