Pensana and Hanwa forge strategic partnership for Rare Earth supply chain

British company Pensana Plc has announced that it has entered into a Memorandum of Understanding (MoU) with a prominent Japanese firm, Hanwa Co. Ltd. This agreement, though non-binding at present, marks a significant step in the potential partnership between the two companies. The focus of the MoU centres around an offtake proposal for up to 20,000 tonnes per annum of ultra-clean Mixed Rare Earth Carbonate. This resource would be sourced from the Longonjo mine over a period of five years, with pricing details to be determined later.

Hanwa’s role in this collaboration extends beyond just an offtake agreement. The Japanese company has expressed its intention to assist Pensana in both marketing and distributing the rare earth material across the global market. Additionally, Hanwa aims to contribute to the development of a strategic and sustainable supply chain, specifically focused on magnet metal materials. This move reflects a broader vision for a more resilient and environmentally conscious approach to sourcing critical resources.

This partnership signals an important step for both Pensana and Hanwa as they explore ways to strengthen their positions in the rare earth metals industry while working towards a more sustainable future.

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Pensana plc

More articles like this

Pensana plc

Advancing global climate and energy solutions

The U.S. International Development Finance Corporation (DFC) has announced over $3.7 billion in climate finance investments for Fiscal Year 2024, marking a significant stride in addressing global climate and energy challenges. This commitment underscores the U.S.

Pensana plc

Leading sustainable rare earth supply in Europe

Leading sustainable rare earth supply in Europe The rare earth elements (REE) sector has emerged as one of the most strategically important industries in today’s global economy. As critical inputs for modern technology, these elements play

Pensana plc

Industrial uses and global production of Rare Earth Elements

Rare earth elements, a group of 17 metallic elements, possess unique magnetic, luminescent, and electrical properties that make them valuable for various industrial uses. Despite the presence of these elements in mineral ores worldwide, their production

Pensana plc

Rare Earth Elements in high-tech and energy devices

Rare-earth elements (REEs) play a critical role in a range of high-tech devices, from smartphones and digital cameras to computer hard disks and electronic displays. They are also vital to clean energy initiatives and defence technologies,

Pensana plc

The unique qualities and future potential of Rare-Earth Elements

The unique properties of rare-earth elements (REEs) make them critical to many high-tech applications. Despite the misleading name, these elements are not particularly scarce in the Earth’s crust, though they are typically found in low concentrations.

Pensana plc

Critical Minerals Africa event in Cape Town featuring Pensana

Critical Minerals Africa (CMA) is a significant event that brings together governments, international presidential and ministerial delegations, provincial authorities, and various stakeholders from global finance, mining, manufacturing, and technology sectors. The event is held in Cape

Pensana plc

The importance of Rare Earth Elements

The rare earth elements (REE) are a group of seventeen metallic elements. These include the fifteen lanthanides found on the periodic table, along with scandium and yttrium. While these elements may not be well-known to many

Pensana plc

Accommodation camp completed in preparation for major construction

Bushtec, an experienced African team, has successfully completed the assembly of accommodation facilities designed to house 350 contractors. These facilities include dining areas, kitchens, ablutions, and a communications hub, all constructed to meet international standards. The

Pensana plc

Longonjo gains momentum as rare earth prices surge

Recent developments in the rare earth market have seen the price of NdPr oxide rise by over 11% in the last month, reaching RMB 404,500 (US$56,620) per tonne. This increase follows a sustained period of lower

Pensana plc

Crucial resources shaping our technological future

The rare earth elements, a group of 17 metallic elements located in the middle of the periodic table, possess unique fluorescent, conductive, and magnetic properties. These characteristics make them highly valuable when alloyed in small quantities

Pensana plc

The remarkable impact of Rare Earth Elements

Rare earth elements (REEs) play a crucial role in the modern world, their unique properties making them indispensable in a wide array of applications. Despite their name, these elements are not actually rare but are rather