Pensana receives sustainability award
London-listed Pensana has been awarded a Gold Medal by EcoVadis, a leading sustainability ratings provider, placing it in the top 5% of companies assessed.
Pensana explains that the ratings by EcoVadis are widely used by the automotive and offshore wind original-equipment manufacturers to monitor the environmental, social and corporate governance credentials of potential suppliers.
The company adds that the ratings are based on a detailed assessment of operations in the areas of environment, sustainability, procurement, labourm and human rights and ethics.
The award follows the award by S&P Bond Rating Agency Cicero in 2022, which rated Pensana’s operations as Light Green with Good Governance.
“We have strong demand for our rare earth products and this recognition from EcoVadis emphasises the very high standards of sustainability our customers can rely on from us,” says Pensana CEO Tim George.
He says Angola, where the company’s Longonjo project is located, was one of the biggest gainers in this year’s Fraser Institute’s annual survey of mining jurisdictions attractiveness.
He adds that a big part of this re-rating was the supportive fiscal terms and the excellent infrastructure which each play their part in achieving high levels of sustainability.
“We are also extremely appreciative for the ongoing support from the Angolan Sovereign Wealth Fund and are aiming to build on this support by making Angola one of the world’s most sustainable suppliers of rare earths,” he says.
Pensana notes that it will continue to operate under the EcoVadis tracking and reporting system, adding that leadership in global sustainability is critical to its long-term growth strategy.
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