Pensana signs MoU for offtake with Japanese group Hanwa
London-listed rare earths miner Pensana has signed a nonbinding memorandum of understanding (MoU) with Japanese trading group Hanwa for the offtake up to 20 000 t/y of mixed rare earth carbonate (MREC).
Pensana holds 84% of the Longonjo neodymium/praseodymium project in Angola. The project is expected to produce 20 000 t/y of MREC initially in 2026 and ramp up to 40 000 t/y by 2029 following planned expansions.
Hanwa and Pensana will cooperate on marketing and distribution for the MREC globally, as well as to develop a strategic and sustainable supply chain for magnet metal materials.
Hanwa is considering a deeper cooperation with Pensana including an investment in both upstream and downstream projects with the aim of delivering low embedded carbon magnet metal materials to Hanwa’s customers and future partners.
Hanwa will also consider providing financial support and to jointly study support opportunities from governmental and financial institutions for the various projects that Pensana is pursuing.
These include Coola and the Sulima West expansion, which relates to a separation and metallisation project.
“We see this MoU as the path to finalising a long-term agreement with Pensana, ensuring high-quality magnet metal products with leading environment, social and governance benefits to Hanwa’s global customers,” Hanwa comments.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation