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    Thursday, July 11, 2024

    Pensana CEO to Share Rare Earth Exploration, Mining Ventures at Critical Minerals Africa 2024

    This year's Critical Minerals Africa Summit will feature a presentation by Tim George, the Chief Executive Officer of Pensana, on the topic of fostering the growth and development of the rare earth sector on the African continent.

    Tim George, CEO of UK-based global mining firm Pensana

    Tim George, the Chief Executive Officer of Pensana, a prominent global mining company headquartered in the United Kingdom, has confirmed his participation as a speaker at the forthcoming Critical Minerals Africa (CMA) Summit scheduled to take place in Cape Town, South Africa. This prestigious event serves as a leading platform for stakeholders involved in the critical minerals sector across the African continent..

    As a prominent African investor in the development of rare earth elements (REEs), Pensana's participation is pivotal in deliberations concerning the fulfillment of the growing demand for REEs, which are utilized in renewable energy and EV technologies. Furthermore, Pensana plays a crucial role in solidifying Africa's position within the global minerals supply chain.

    The Critical Minerals Africa 2024 summit on November 6 - 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference (www.AECWeek.com) on November 4 - 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.

    Pensana obtained an $80 million loan from Angola's sovereign wealth fund in March to execute a revised implementation plan for the Longonjo Rare Earth Project. With offtake agreements in place for the project's entire production, the loan will expedite development, aiming for initial production by 2026. As one of the world's largest and highest-grade magnet metal rare earth deposits, the project positions Angola as a strategic supplier of critical minerals. An update on the project and ongoing innovations to enhance the efficiency and sustainability of rare earth extraction and processing activities will be provided.

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    Pensana is poised to benefit from the Longonjo project's proximity to the planned Lobito Corridor, which will facilitate the transportation of mineral resources from Africa's Copperbelt region to international markets. As Angola collaborates with global partners, including the governments of Zambia and the Democratic Republic of the Congo, USAID, the European Commission, and the African Development Bank, to advance the project, the summit will explore the significance of supportive government policies in establishing resilient transport and logistics infrastructure for sustained growth in the sector.

    In addition to the Longonjo project, Pensana is actively pursuing exploration and resource assessments at the Coola Carbonatite and Sulima West Rare Earth Elements exploration projects in Angola, demonstrating our unwavering commitment to the sustainable expansion of the nation's mining sector. At CMA 2024, George will provide a comprehensive overview of the extensive socioeconomic advantages that Pensana's projects will bring to Angola, encompassing local employment opportunities and substantial infrastructure development.

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