Pensana has provided the following update on activities at the Longonjo mine site ahead 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.
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.