British company Pensana plans to open a mine in Angola to reduce Europe’s dependence on rare earths from China. At the same time, it wants to build a clean supply chain. Can that succeed?
Tim George has taken an important step. The managing director of the British company Pensana has raised $200 million. He now wants to open a mine in Angola, a country in southwest Africa that has so far been known primarily for the export of oil and diamonds. Longonjo is the name of the mining project that is supposed to extract raw materials from a depth of 30 meters, the names of which are difficult to say: neodymium and praseodymium, for example.
Pensana plc (LON:PRE) explores and mines neodymium, praseodymium, and rare earth minerals. The Company’s flagship assets are the Saltend rare earth refinery project in the United Kingdom and Longonjo neodymium and praseodymium (NdPr) Project in Angola.
