Pensana welcomes Trafigura’s Lobito Corridor investment

UK-based rare earth developer Pensana expects its Angolan mining operation to benefit from the recently announced $555 million investment in the Lobito Rail Corridor, Kallanish reports.

A Trafigura-led consortium – Lobito Atlantic Railway – has been awarded a 30-year concession to operate the rail infrastructure corridor that runs around 1,300 kilometres. The line connects the Lobito port to Luau, in eastern Angola, close to the border of the Democratic Republic of the Congo (DRC). The Lobito railway extends across Angola and then continues for 400 km into the DRC to Kolwezi, the heart of the Copperbelt.

The consortium JV partners, which include Mota-Engil and Vecturis, plan to invest $455m in Angola and up to $100m in the DRC. 

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

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

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