PRE Pensana Plc

 
TIDMPRE 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
Pensana Plc 
 
("Pensana" or the "Company") 
 
UPDATE ON CONSTRUCTION ACTIVITIES AT LONGONJO 
 
Pensana is pleased to provide the following update on activities at the Longonjo 
minesiteahead of main construction. 
 
As previously announced the early-stage development activities are being funded 
by a US$15 million bridging loan provided by FSDEA (the Angolan Sovereign Wealth 
Fund) ahead of the main finance. 
 
The significant activities have been the civil works for the camp, the 
rehabilitation of the access road to the Longonjo railway station and the 
agricultural demonstration plots under the Livelihood Restoration Programme. 
 
The 4.5 kilometre road linking the site to the Benguela railway line has been 
upgraded. The enhanced road features include an improved roadbed substructure, a 
redefined road profile and rapid drainage systems. 
 
Serving as theprimary route for inbound materials during construction and later 
for reagent import and the export of Mixed Rare Earth Carbonate in containers, 
the road connects the mine to the Longonjo station for rail access to the port 
of Lobito for shipping. 
 
The Benguela railway line is part of the Lobito corridor undergoing a US$550 
million investment from the US Government. The investment aims to secure 
critical minerals across central Africa to be exported via the port of Lobito 
and is anticipated to become one of Africa's most important rail transport 
systems. 
 
Several kilometres of overhead powerlines, together with an underground water 
supply and effluent disposal system have been installed ahead of the arrival of 
the 350-person modular camp, which has been assembled at Johannesburg and is 
being relocated to site. The camp will be the primary operations base for the 
construction team. 
 
Agricultural demonstration plots have been established by SouthAfrican 
agriculture consultants, Vuna Agri,as part of the Livelihood Restoration 
Programme. The demonstration plots have an area of nine hectares and have now 
successfully completed their first full season. The Livelihood Restoration 
Programme was established to provide replacement land for any displaced farmers 
and additionally to provide a training base for those persons affected by the 
project to develop their agricultural skill sets. 
 
The objective is to help local growers and farmers create healthy and 
sustainable agro-ecosystems, boosting household income in nearby communities, 
whilst enhancing overall food security. This ongoing programme is being 
conducted in collaboration with local universities with a view to continually 
improving farming practices. 
 
Tim George CEO commented: "We now have over 50 engineering contractors and 
Longonjo staff working on site in preparation for the commencement of main 
construction. There has been a very positive reaction to the activities on site 
amongst the local community, in particular with the creation of well-paid jobs 
and the successful implementation of the first phase of the livelihood 
restoration programme. 
 
We have a strong team supporting the main construction which is being manged by 
MCC a leading project management team with a track record of delivering projects 
across Africa, including Angola.  ADP, the main contractor is an African 
minerals specialist in the detailed design, construction and commissioning of 
modular mineral processing plants with extensive development experience in 
Angola." 
 
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$200 million for the fully permitted mine and 
processing facilities is amongst the lowest amongst its peers making Pensana 
highly competitive. 
 
Pensana also has a fully permitted US$250 million downstream separation facility 
at the Saltend Chemicals Park in the Humber Freeport. 
 
Financing for each of the Longonjo and Saltend projects is currently underway. 
 
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, ChairmanIR@pensana.co.uk 
 
Tim George, Chief Executive Officer 
 
Rob Kaplan, Chief Financial Officer 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

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