Name of the Project
Longonjo neodymium/praseodymium project.

Location
Huambo, Angola – 4 km from a modern rail line leading directly into the Port of Lobito in the Atlantic Ocean.

Project Owner/s
Rare earths developer Pensana Rare Earths holds an 84% interest in Longonjo through its 84% holding in Angola-registered company Ozango Minerais, which, in turn, owns 100% of the mining licence.

The Angolan government holds a 10% interest and the company’s Angolan partners the remaining 6%.

Project Description
Longonjo is one of the biggest rare earths deposits in the world, with an initial 20-year mine life.

The mine execution plan is based on a staged development of the mine and processing facilities.

At full production, once the phased development is complete, the Longonjo mine will target production of up to 38 000 t/y of mixed rare-earth double sulphate or mixed rare-earth carbonate (MREC) containing 14 000 t of TREOs and up to 4 400 t of neodymium-praseodymium (NdPr) oxides. This equates to about 5% of the worldwide production of neodymium/praseodymium oxides a year for downstream processing or to be sold on the international market.

Initial feedstock will be shipped as a clean, high-purity mixed rare-earth sulphate to Pensana’s Saltend rare earth oxide separation facility, in the UK.

Potential Job Creation
The project is expected to create 600 high-value jobs, of which more than 50% are expected to be allocated to young people.

Once in full production, the project will create an estimated 2 400 direct and indirect jobs.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Capital cost is estimated at $217-million, including contingencies, which Pensana claims is among the lowest for rare earth developments of this scale.

Planned Start/End Date
Longonjo is expected to produce 20 000 t of MREC starting in 2026 and 40 000 t of MREC from 2029 onwards following the planned expansion.

Latest Developments
Pensana’s major institutional shareholder, M&G Investment Management, has agreed to invest £1-million in the company, alongside other strategic investors who will invest a further £1-million.

This follows the recent $25-million investment by another major shareholder, Angolan sovereign wealth fund Fundo Soberano de Angola, in Pensana’s 84%-owned subsidiary Ozango Minerais. This has allowed for main construction to start at the Longonjo mine site.

“We are delighted that the company continues to be supported by its major institutional shareholders, both at the asset level and at the corporate level. The £2-million funding will meet the company’s corporate funding requirements for the next 18 months,” chairperson Paul Atherley has said.

“Our focus is on the developments on site, where the team is mobilising contractors to commence construction of one of the world’s largest and highest-grade undeveloped rare earth projects.

“Longonjo is fully funded and benefits from one of the lowest capital costs and a near-surface deposit with a 4% total rare earth oxide grade, and has attracted considerable interest in its clean high-grade mixed rare earth carbonate product,” he has noted.

Key Contracts, Suppliers and Consultants
ADP (main contractor); MCC (main construction); NCP International (equipment); Bushtec (accommodation facilities); ProProcess Engineering (modular process units); Grupo Nov (contractor); and Deugro (international procurement and logistics).

Contact Details for Project Information
Pensana Rare Earths, email admin@pensana.co.uk or ir@pensana.co.uk.