Pensana welcomes US administration support for critical minerals
(Alliance News) - Pensana PLC on Monday said Chief Executive Tim George was present at a private briefing with US President Donald Trump and Secretary of State Marco Rubio, as the Trump administration pledged to invest USD3 billion in critical minerals assets.
The meeting "outlined the administration's support for establishing independent US supply chains for rare earths and other critical minerals", the developer of the Longonjo project in Angola said.
Longonjo is one of the largest new independent sources of rare earths outside China. The USD250 million development is in construction and around 25% complete with first mixed rare earth carbonate production scheduled for 2028.
Initial production is for 20,000 tonnes per annum of clean MREC with a planned expansion to 40,000 tonnes per annum in year four.
"It was a privilege to be invited to Washington for this important presidential briefing which is very supportive of our US mine-to-magnet strategy and Nasdaq listing," said CEO George.
Last December, Pensana said it was targetting a mid-2026 Nasdaq listing.
Shares in the London-based mineral developer were down 5.3% at 83.70 pence each in London on Monday morning, leaving then 3.9% higher over the last 12 months.
By Jeremy Cutler, Alliance News reporter
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