Pensana largest magnet metal rare-earth deposit on schedule

The Longonjo deposit in Angola will extract and chemically refine the material to produce high-value mixed rare-earth carbonate.

Construction is reportedly on track to meet capital cost schedule, the project team has confirmed that the overall capital cost envelope of US$217mln remains intact and the project remains on schedule.

The Longonjo project team has completed a detailed review of the capital cost estimates and construction schedule since the approval of finance.

The site reserves comprise 21.54mln/t at 3.04% total rare-earth oxide (TREO) for 654,965t TREO including 0.65%  neodymium-praseodymium (NdPr) for 139,457t of NdPr.

While resources comprise 138mln/t at 2.19% TREO for 3,030,000t TREO including 0.47% NdPr for 650,000t of NdPr

It is located adjacent to the Lobito rail Corridor approximately 60km west of the provincial capital of Huambo in central Angola.

The resulting high-value mixed rare-earth carbonate is to be railed 273km to the Atlantic port of Lobito for export.

The project currently under development comprises an open pit, concentrator and recovery plants, tailings storage facility (designed to meet the requirements of the Global Industry Standard on Tailings Management), process water supply, bulk power supply, mine infrastructure, workshops, offices, accommodation village, recreational facilities, and other associated infrastructure.

Pensana’s commitment is to develop the lowest carbon footprint for rare earths based on low-carbon solar energy and the access to hydro-electric power.

The mine is situated near the national grid linked to the 2GW Laúca hydropower scheme.