Tim George, CEO of the UK-based global mining firm Pensana, will be speaking at the upcoming Critical Minerals Africa (CMA) Summit in Cape Town. This summit is Africa’s premier gathering for stakeholders in the critical minerals sector. Pensana, a leading investor in the development of rare earth elements (REEs) in Africa, plays a crucial role in discussions about meeting the rising demand for REEs, which are essential for renewable energy and electric vehicle technologies. The summit aims to establish Africa’s position in the global minerals supply chain.
Scheduled for November 6-7, the Critical Minerals Africa 2024 summit will position Africa as a primary investment destination for critical minerals. It runs alongside the African Energy Week: Invest in African Energy 2024 conference from November 4-8, providing delegates access to energy, mining, and finance leaders in Cape Town. Sponsors, exhibitors, and delegates interested in the event can contact sales@energycapitalpower for more information.
In March, Pensana secured an $80-million loan from Angola’s sovereign wealth fund to implement a revised execution plan for its flagship Longonjo Rare Earth Project. This loan, alongside offtake agreements for 100% of Longonjo’s production, will enable Pensana to accelerate the project, targeting first production by 2026. The Longonjo project is one of the world’s largest and highest-grade magnet metal rare earth deposits, positioning Angola as a strategic critical minerals supplier. Tim George is expected to provide an update on this project and highlight ongoing innovations to improve the efficiency and sustainability of rare earth extraction and processing.
The Longonjo project is strategically located near the planned Lobito Corridor, which will facilitate the transport of mineral resources from Africa’s Copperbelt region to international buyers. Angola’s cooperation with global partners, including Zambia, the Democratic Republic of the Congo, USAID, the European Commission, and the African Development Bank, underscores the importance of supportive government policies in building resilient transport and logistics infrastructure for sector growth.
Besides the Longonjo project, Pensana is advancing exploration and resource studies at the Coola Carbonatite and Sulima West REEs exploration projects in Angola. These initiatives reaffirm Pensana’s commitment to the sustainable growth of Angola’s mining industry. At CMA 2024, Tim George will discuss the wide range of socioeconomic benefits that Pensana’s projects will generate for Angola, including local job creation and broad infrastructure development.
Pensana’s involvement in the CMA Summit underscores its pivotal role in shaping the future of Africa’s critical minerals industry and its contributions towards a sustainable and resilient global supply chain.
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.
