Pensana Secures US Grant for Mining Expansion

Pensana Rare Earths PLC (GB:PRE) has released an update.

Pensana Rare Earths PLC has received a $3.4 million Technical Assistance grant from the U.S. International Development Finance Corporation to support feasibility studies aimed at expanding the Longonjo mine and establishing downstream refining in Angola. The funds, matched by Pensana, will also advance the development of the Coola project as the company aligns with the US BUILD Act’s goal to stimulate critical mineral supply and processing. Concurrently, Pensana has reduced its board size, with two non-executive directors stepping down but continuing in advisory roles.

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