14th Jan 2026 14:27
Pensana PLC - London-based developer focused on developing a mine-to-magnet rare earth supply chain - Announces that main construction activities at the Longonjo rare earths mine and processing facility in Angola are now "well underway", on budget and with first production on target for commissioning in 2027. The company says permanent power, potable water, wastewater treatment, telecommunications, and site security infrastructure were installed and commissioned in 2025. It is now able to fully support the growing construction workforce as the project executes the large-scale construction workstreams through 2026, Pensana adds.
Chief Executive Officer Tim George says: "We are delighted with the rapid progress on site as we construct and look to bring one of the world's largest rare earth deposits into production next year. A significant amount of design work has now been completed followed by the efficient deployment of capital in establishing the site infrastructure. The decision to construct the process plant on a modular basis is important as it provides us with improved cost and delivery control. The team continues to strive towards completion of the significant workstreams currently underway. Whilst there is still much to do there is a growing sense of achievement as the project rapidly emerges."
Current stock price: 90.20 pence each, down 0.7% on Wednesday afternoon in London
12-month change: up sharply from 26.00p on January 14, 2025
By Tom Budszus, Alliance News slot editor
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