Pensana plc (LON:PRE) has announced that one of its major potential customers has approved the product qualification specifications for Longonjo’s proposed mixed rare earth carbonate (MREC) product.
Longonjo is expected to produce 20,000 tonnes of MREC commencing 2026 and 40,000 tonnes of MREC from 2029 onwards following the plannedexpansion. The Longonjo MREC contains 50% Total Rare Earth oxide of which 24% is NdPr with minimal impurities and is radionuclide-free.
Tim George, Pensana CEO commented “We are very pleased to receive this important product quality approval for the Longonjo mixed rare earth carbonate which follows extensive pilot plant test work in Perth, Western Australia. Our understanding is that there is expected to be a shortage of high quality, clean product coming onto the market in the near future, and this puts us in a strong position when looking to secure offtake arrangements.”
The electrification of motive power through EVs and Wind Turbines is the biggest energy transition in history and is forecast to generate a demand growth for magnet metal NdPr of 7.5% CAGR over the next decade.
