Pensana Rare Earths PLC (LSE:PRE) has confirmed that development of its Longonjo project in Angola is progressing on schedule and within its allocated budget of $217 million. Once operational, the facility is expected to deliver 20,000 tonnes of Mixed Rare Earth Carbonate (MREC) annually, with long-term ambitions to double output.
In parallel, the company has commenced drilling activities at its Coola site, aiming to uncover high-grade material that could potentially enhance the feedstock supply for Longonjo. This move highlights Pensana’s proactive approach to expanding its resource base and strengthening its presence in the global rare earth supply chain.
As demand rises for materials vital to green technologies, Pensana continues to establish itself as a key player in the rare earths sector—an industry critical to the electrification of transportation and the growth of renewable energy infrastructure.
About Pensana Rare Earths PLC
Pensana Rare Earths PLC is focused on discovering and developing rare earth resources, with a primary emphasis on producing Mixed Rare Earth Carbonate. This material is a core component in the manufacture of permanent magnets used in electric vehicles and offshore wind power systems. The company is also recognized for its dedication to responsible and sustainable development practices across its operations.
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