Pensana is forging ahead with the development of its Longonjo neodymium-praseodymium oxide (NdPr) project close to the city of Huambo in central Angola. Angola’s privatisation drive has resulted in a surge of new exploration projects by both major and junior mining companies across the country.
Better known for its prolific oil deposits and great diamond mines, the Angolan government under President João Lourenço has stepped up a gear to diversify the country’s economy away from oil. Lourenço has been relentless in his effort to rid the government of mismanagement and corruption so prevalent under the previous regime of José Eduardo dos Santos.
In Diamantino Azevedo, Angola has one of the best ministers of mineral resources in Africa. Azevedo has a long history in the oil and mining industries and regards the mining sector’s growth and development as a top priority for the country.
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.
