The potentially free dig offers a low waste-to-ore ratio, coupled with high-grade surface mineralisation, which together with the favourable location and the transport infrastructure already in place, distinguish Longonjo from the majority of other rare earth projects.
Why Invest with Us
At Pensana Plc, we are committed to a greener future. Our goal is to provide industries with a low-cost, high-quality, reliable solution to drive the production of greener energy and the electrification of transport around the globe.
‘Pensana is looking to establish the world’s first fully sustainable magnet metal Rare Earth Oxide producer at the Saltend Chemicals Park in the Humber Local Enterprise Partnership Yorkshire, UK. The processing facility would become one of only two major producers outside China of rare earth oxides used in the manufacture of powerful permanent magnets, criRcal to the offshore wind and electric vehicle industries. Lynas CorporaRon of Australia is currently the world’s largest non-China producer of magnet metal rare earth oxides from its facility in Malaysia.
Thick blanket of high-grade NdPr mineralisation extending over 1.5 kilometres
International mining industry consultants SRK Consulting has reported an upgraded Measured, Indicated and Inferred Mineral Resource estimate of: 313 million tonnes at 1.43% REO including 0.32% NdPr for 4,470,000 tonnes of REO including 990,000 tonnes of NdPr
The upgraded estimate:
- contains more than 2.3 times the previous estimate of the Measured and Indicated resources used in the Preliminary Feasibility Study1 (announced ASX: 15 November 2019).
- has increased the proportion of the resources reported in the Measured and Indicated categories from 31% to 68%2;
- and has increased the overall contained NdPr by 35%2;
A number of previously announced drill holes in fresh rock mineralisation immediately below the weathered zone have reported continuous mineralisation to a depth of 80 metres, which remain open. Further drilling is planned in this area which will form the basis for future Mineral Resource estimation.
At a 0.2% NdPr lower grade cut, the Measured and Indicated Mineral Resource estimate for the Weathered Zone is: 39.9 million tonnes at 2.38% REO including 0.52% NdPr for 948,000 tonnes of REO including 208,000 tonnes of NdPr
The upgraded resource estimate is being incorporated into the technical studies currently underway and is expected to support an extended mine life on completion of additional workstreams of the Bankable Feasibility Study (BFS).
The Weathered Zone is contained within and is a subset of the Total Mineral Resource estimate.
1 Comparison of contained NdPr within the Weathered Zone Measured and Indicated categories at a 0.2% NdPr cut off, November 2019 and new Mineral Resource estimates.
2 Comparison of contained NdPr within the November 2019 and new Total Longonjo Mineral Resource estimates at a 0.1% NdPr cut off (Measured+Indicated+Inferred categories).
LSE and ASX announcement of 14/09/2020 contain details of the estimation.
- Coola Project
The new Coola Project contains several immediate and well defined targets with early stage exploration initiated recently.
- Two carbonatite complexes, Coola and Monte Verde, are confirmed as mineralised through academic work identifying NdPr rare earth mineralisation in rock samples
- Coola and Monte Verde have never commercially evaluated and a significant portion of each lie beneath shallow soil
- Five additional alkaline intrusive complexes, geological systems prospective for heavy and other rare earths are identified within the licence area
- A further five strong geophysical anomalies that could reflect additional carbonatite or alkaline complexes
The large project covers an area of 7,456 square kilometres is well located just 16 kilometres from the Longonjo Project and close to established road and rail infrastructure that leads to the Atlantic port of Lobito.
The new project lies just 16 kilometres north of the Longonjo licence and so is similarly located close to modern road and rail infrastructure that links the project to the Atlantic port of Lobito. Low cost hydro power is available at Caala, located 40km to the west and the provincial capital of Huambo lies about 60 kilometres to the west.
Two known carbonatites with reported NdPr rare earth mineralisation, Coola and Monte Verde, together with five additional alkaline intrusive complexes and five strong geophysical anomalies represent immediate and well defined ‘walk – up’ exploration targets prospective for NdPr and other rare earths.
The Coola Project Prospecting Licence 059/02/01/T.P/ANG – MIREMPET/2020 covers an area of 7,456 square kilometres. Pensana holds a 90% beneficial interest in the licence with two Angolan partners each holding 5%. The licence was granted for a period of two years, renewable to 7 years.
Rare Earth Mineralised Carbonatites
The Coola and Monte Verde carbonatites, like Longonjo, are intrusive or volcanic ring structures containing carbonatite rock and are known to be enriched in elements and minerals associated with rare earth mineralisation such as fluorite, strontium, barite, phosphorous and niobium. They are also the same Cretaceous age (135 million years) age as Longonjo and part of the same regional geological event.
Previous academic work on the three carbonatites identified rare earth enrichment from limited rock samples with the maximum values of 3.64% REO from Coola and 0.93% REO from Monte Verde, comparing well with the 1.41% REO returned from Longonjo in the same study (Alberti et al., 1999).
The Coola and Monte Verde carbonatites have not been commercially explored and, like Longonjo, much of the area is covered by a veneer of ferruginous soil. The Company plans to complete initial soil, rock and geological mapping, which if successful may rapidly define drill targets (Alberti A. et al., 1999: Geochemical characteristics of Cretaceous carbonatites from Angola, Journal of Earth Sciences).
Additional prospective targets
The Company has also identified five alkaline complexes (geological systems prospective for heavy and other rare earths) and five strong geophysical anomalies that have a signature similar to known carbonatites within the new licence area. These represent ten additional defined exploration targets that the Company looks forward to rapidly and efficiently evaluating for their rare earth potential through surface sampling alongside the Coola and Monte Verde carbonatite systems.
Chairman Paul Atherley gives 10min update on Pensana having its nose in front, in the race to become the world’s next major rare earth miner
Pensana shortlisted for PLC Awards New Company of the Year (20 Sep 21)
Pensana Plc has been shortlisted for New Company of the Year at the PLC Awards 2020 taking place this week.
The Company has been selected by a respected voting panel alongside leading organisations from diverse industries including logistics, textiles, computing and asset management. More
Update on ATF, US$250 million Bond Finance and Investor Webinar (31 Aug 21)
Site development at Saltend and Longonjo underway, ATF being progressed, ABG Sundal Collier appointed for US$250 million bond issue and Webinar on 8th September
Pensana Plc has this morning provided an update following a recent Board Meeting at the Saltend Chemicals Park in Humber Freeport, Northern England.
The Company’s US$125 million Saltend plant will be the first major rare earth separation facility to be built in over a decade and the first to be located in a Freeport. It will become an important hub in establishing an independent magnet metal supply chain for the UK and beyond, creating over 100 high value direct jobs and over 500 jobs during construction. MORE
Pensana Takes Centre Stage at Humber Business Week (7 Jun 21)
Senior executives from Pensana are supporting Humber Business Week to present why the world class Saltend rare earths facility will be transformational in bringing back high value manufacturing jobs and creating a sustainable UK supply chain for electric vehicles and offshore wind.
Pensana’s Chairman, Paul Atherley, is this morning joining Associated British Ports, KMPG, Able UK and Marketing Humber to discuss Pensana’s role in the Humber freeport which is set to boost the local economy by £3.5bn in investment and generate 7,000 high quality new jobs.
On Wednesday Pensana’s CEO, Tim George, will join local officials from the HEY Local Enterprise Partnership to present the £100m inward investment Pensana’s Saltend project represents. MORE
Saltend receives first phase backing from the £1 billion Automotive Transformation Fund (29 Mar 21)
Pensana’s proposed world class rare earth separation facility to be located at Saltend Chemicals Park has received first phase progression from the UK Government’s £1 billion Automotive Transformation Fund (“ATF”) which seeks to support the national transition to Electric Vehicles. MORE
Planning application to establish rare earth processing facility at Saltend Chemicals Park, Yorkshire (26 Jan 21)
Pensana Plc (LSE:PRE, ASX:PM8) (“Pensana” or “the Company”) is pleased to announce that it has submitted a planning application for theproposed rare earth oxide separation facility at the Saltend Chemicals Park,Humber, Yorkshire.The US$125 million facility will generate around 100 direct jobs onceconstructed and in operation. It is being designed by Wood Group to becomeone of the world’s largest producers of rare earth oxides, crucial components in the manufacture of powerful permanent magnets which are used in a range of growing advanced industries including electric vehicles and offshore windturbines. More
Pensana's Chairman Interviewed in Daily Telegraph Article (19 Jan 21)
Pensana’s Chairman, Paul Atherley, appears in The Daily Telegraph Article, Is There a Dark Side to Green Energy? which you can read here. The article looks at the UK Government pledge to achieve “net zero” greenhouse gases by 2050 and the energy industries necessary to meet that goal.
Pensana Interview | China Mining Club | (EN/中文) (3 Aug 2020)
Interview with Pensana Chairman Paul Atherley. LINK
Shares Magazine - Interview with Pensana Chairman, Paul Atherly (28 Jul 2020)
Pensana Rare Earths Plc (PRE) With Presidential approval and backing from the Angolan Sovereign Wealth Fund, recently LSE listed Pensana Rare Earths is bringing online the first major rare earths in over a decade to help meet the rapidly growing demand for magnet metals critical for electric vehicles and offshore wind turbines. LINK
Pensana Rare Earths is welcomed to the London Stock Exchange (6 Jul 2020)
Pensana Rare Earths is welcomed to the London Stock Exchange – LINK
Pensana Rare Earths – Sky News Interview (11 Jul 2020)
Pensana Rare Earths – Sky News Interview – LINK
Proactive Mining Capital Conference (4 Dec 2019)
Pensana Metals Ltd’s (ASX:PM8) Paul Atherley presents to investors at the Proactive Mining Capital conference in London – LINK
Board & Management
Paul Atherley - Chairman
Mr. Atherley leverages extensive experience as a senior resources executive with expertise in international and capital markets. He obtained his education as a mining engineer from Imperial College London and proceeded to hold a number of mine management, senior executive and board positions throughout his career. LinkedIn
Tim George – Executive Director / Chief Executive Officer
A Minerals Engineer, Tim leverages over 30 years of experience in the mining and engineering sectors, with a broad experience in mining project development throughout Sub‐Saharan Africa. LinkedIn
David Hammond - Chief Operations Officer
Sandra Bates - Non-executive Director
Ms Bates is an international lawyer with over 20 years’ experience advising listed and private companies in the natural resources sector on complex commercial negotiations and Environmental, Social and Governance (ESG) engagement. LinkedIn
RT Hon Baroness Lindsay Northover - Non-executive Director
Baroness Northover was the Prime Minister’s Trade Envoy to Angola (2016- 2020), Zambia (2017-2020) and a Minister in the Department for International Development (“DFID”) 2011-15, including serving as Parliamentary Under Secretary and Africa Minister, 2014-15. LinkedIn
Mark Hohnen - Non-executive Director
Mr. Hohnen has experience in the Japanese, Chinese and Korean markets, all of which play a significant role in the production of lithium-ion batteries and the development of electric vehicle technology. Mr. Hohnen has been involved in the mineral resource sector since the late 1970s
Neil MacLachlan - Non-executive Director
Mr. Maclachlan has over 35 years’ investment banking experience in Europe, South East Asia, and Australia and extensive experience in public company directorships. He currently serves as chairman and a major shareholder in Markham Associates, a private UK partnership, which undertakes financial consultancy and direct investment activities in the junior mining sector in Europe, Australia, and South East Asia.
Rob Kaplin - Chief Financial Officer
Robert is a Chartered Accountant with over 20 years operating experience in the African mining sector. His addition to the Pensana team brings a broad skill set in both the UK and sub‐Saharan corporate finance together with experience in mining operations in Angola, South Africa and Tanzania.
Paulo Nunes - Country Manager, Angola
Paulo has been involved with the Longonjo NdPr Project since 2012, offering his exceptional organisation and management skills and Country Manager experience to the company.
Lotus Qi - ESG Manager
Lotus specialises in ESG, drives the implementation of the company’s ESG goals and is tasked with, ensuring transparent ESG reporting across the Group. LinkedIn
Change of name Pensana Plc (16 Feb 21)
Click here to Download Full Announcement
2020 Stock Performance (12 Jan 21)
First high grade results from Coola "a great start" (21 Dec 20)
First assay results from Coola carbonatite report high-grade rare earths. Further results expected shortly. Grant Haywood appointed Exploration Manager. Follow up drilling planned for 2021. MORE
The Angolan rare earth project that will power the electric motor boom (12 Jul 20)
Perhaps one day the future will be fantastical, all flying cars, engaging hyperdrives and beaming people up, but the nearest future, the one that matters, has far more pressing concerns.
If we want to make it far enough to one day entertain such sci-fi fantasies, we first need to rapidly transition to a low-zero carbon economy. Pensana Metals is helping achieve this with a good old fashioned piece of science that sits at the cutting edge of technology. more
The rare earth metal that won’t be a secret for long (16 Jul 20)
Remember that town you came across on holiday one year, you couldn’t believe you’d never heard of it before, or for that matter, that no one else had either. It was beautiful, untainted by the hordes, your little secret.
Have you heard of the oddly named rare earth metals Neodymium and Praseodymium, commonly and more easily known as NdPr? They’re to the green energy revolution what Thailand or Ibiza once were before the whole world found out about them – someone’s little secret.
Now, one of only a few ways to enjoy this off-the-beaten-track discovery is with NdPr miner Pensana Rare Earths Plc. more
How do we invest in a sustainable future? (16 Jul 20)
One way is to invest in the metal that is critical to the transition from fossil fuels to electrification.
From wind turbines to electric vehicles, bikes and trains to trucks, drones and a wide range of industrial applications the electric motor is the driving force behind the US$400 billion transitions from fossil fuels to a future with cleaner electrical energy. more
Building a mine with high sustainability standards from the ground up
- Designed to Equator Principles and Scope 1, 2 and 3 emissions under the Green House Gas protocol.
- Access to low carbon power from the Luaca hydro-electric dam enabling a very low carbon footprint.
- Zero discharge for process and tailings water with full end of life rehabilitation.
- Training for over 370 direct jobs and preparing local businesses to become service providers.
- A particular focus is on the training of young women for technical and engineering roles.
- Corporate Governance
Find about more about Pensana’s Corporate Governance measures here – LINK