Pensana signs offtake and co-operation agreement with Hanwa

Pensana Plc (LON:PRE) has advised that it has signed a non-binding Memorandum of Understanding for an offtake with a major Japanese partner, Hanwa Co. Ltd.

Key MOU terms include: 

  • Offtake proposal for up to 20,000tpa of ultra clean Mixed Rare Earth Carbonate from Longonjo mine over 5 years at prices to be discussed. 
  • Hanwa intends to co-operate with Pensana in the marketing and distribution in the Global market but also work towards developing a strategic and sustainable supply chain for magnet metal material.
  • Hanwa is considering a deeper co-operation including possibility of an investment to continue to develop the Pensana upstream and downstream projects with the aim of delivering a low embedded carbon magnet metal supply chain supporting Hanwa’s customers and future partners.

The MOU also allows for Hanwa to consider providing financial support and to jointly study support opportunities from Governmental and financial institutions for the various Pensana projects. These include Coola and Sulima west expansion, the separation facilities and metallization project. 

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

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

Pensana plc

Pensana receives Gold Medal for top 5% Sustainability ranking

London-listed Pensana has received a Gold Medal from EcoVadis, a leading sustainability ratings provider, placing it among the top 5% of companies assessed. Pensana highlights that EcoVadis ratings are extensively used by automotive and offshore wind

Pensana plc

Ensuring critical mineral supply for decarbonisation

Critical minerals, essential in modern technology and clean energy systems, significantly influence the global economy and geopolitical landscape. The World Economic Forum has termed them the “new oil,” highlighting their potential to spark economic, political, and

Pensana plc

Pensana and the rising demand for Rare Earth Elements

The rare earth elements (REE) sector is experiencing a significant surge, driven by the increasing demand for green technologies and the growing recognition of REEs’ essential role in modern electronics. As the world shifts towards renewable

Pensana plc

Africa’s emerging role in the Rare Earth market

China’s dominance in the rare earth market has raised concerns in the West, prompting a search for alternative suppliers. Recent forecasts by Benchmark Mineral Intelligence suggest that Africa could become a significant alternative in the coming

Pensana plc

Rare Earth Elements in modern technology

Rare earth elements, often overlooked in discussions of technological advancements, are indispensable components in a wide array of modern devices and systems. These 17 elements, including familiar names like neodymium, europium, and yttrium, possess unique properties

Pensana plc

Rare Earth Elements in the green energy revolution

The rare earth elements (REE) sector is gaining increasing attention as the world pivots towards sustainable and green technologies. These elements, crucial for the manufacturing of magnets used in electric vehicles (EVs), wind turbines, and various