Pensana Plc - U.S. EXIM debt funding to accelerate U.S. mine-to-magnet supply chain
PR Newswire
LONDON, United Kingdom, October 28
28 October 2025
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Pensana Plc
("Pensana" or the "Company")
U.S. EXIM debt funding
to accelerate U.S. mine-to-magnet supply chain
Pensana Plc is pleased to announce it is in advanced engagement with the Export-Import Bank of the United States ("EXIM") to accelerate the Company's mine-to-magnet supply chain in the United States of America ("U.S."), supported by a Letter of Interest ("LOI") to participate up to 100% in the US$160 million debt funding of the Longonjo Rare Earth Mine ("Longonjo").
This announcement follows the recent signing of a Memorandum of Understanding ("MOU") with Vacuumschmelze GmbH & Co. KG ("VAC"), which includes a proposed offtake of products from Longonjo to support the production by eVAC, VAC's recently commissioned Magnetics facility in Sumter, South Carolina.
The establishment of a mine-to-magnet Supply Chain in the U.S. qualifies Longonjo for funding predicated upon the sale of rare earth products directly into the U.S. as required under EXIM's Supply Chain Resiliency Initiative ("SCRI").
Pensana is constructing one of the world's largest rare earth mines in the Huambo district of Angola with production scheduled to commence by 2027 ahead of U.S. Government restricting China imports. EXIM's support for the Longonjo mine is directly contributing to the resilience of U.S. defense supply chains and the reindustrialisation of America's high-tech manufacturing base.
Paul Atherley, Chairman, Pensana commented: "The support from EXIM for our partnership with eVAC to establish a U.S. mine-to-magnet supply chain is both timely and deeply appreciated. EXIM's participation brings critical financing capacity that expands upon what is available in commercial markets, helping to accelerate production to 2026 and advance U.S. leadership in strategic materials."
About EXIM
EXIM is the official export credit agency of the United States. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services.
About Pensana
Pensana is focused on developing a mine-to-magnet rare earth supply chain to support the growth of industries including robotics, artificial intelligence, electrification, advanced manufacturing and humanoid robots. Through strategic partnerships and investment, the Company aims to provide the critical mineral resources required by the US and its allies to underpin industrial growth.
Pensana has financed and is constructing one of the world's largest rare earth mines in the Huambo district of Angola approximately 350 kilometres Southeast of the capital Luanda.
The US$217 million mine will produce 20,000 tonnes of a highly marketable clean mixed rare earth carbonate ("MREC") from early 2027. The proposed second phase expansion will see production increase to 40,000 tonnes of MREC per annum which would represent around 5% of the world's production (based on current reported global production).
The investment by Pensana in Longonjo is expected to generate hundreds of local high value jobs, give work to many local businesses and, once in production, will generate substantial fiscal returns for the Government of Angola.
The downstream development of the mine and processing facilities to a high value mixed rare earth carbonate goes well beyond the conventional dig and ship approach to mining in Africa, adding considerable value in country.
The Company is committed to developing the Longonjo mine to the very best international standards with the highest level of community engagement and has published a blueprint for sustainable rare earth development which is available on our website. Pensana_Blueprint_for_Sustainable_Rare_Earths
The team's efforts were recognised in 2022 when Pensana received green bond assurance by S&P Green Bond Rating Agency CICERO and more recently were awarded a Gold Medal by EcoVadis, a leading sustainability ratings provider, placing it among the top 5% of the companies assessed.
The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain. The person responsible for arranging for the release of this announcement on behalf of the Company is Paul Atherley (Chairman).
-ENDS-
Forfurtherinformation,pleasecontact:
Shareholder/analystenquiries:
PensanaPlc
Paul Atherley, Chairman
IR@pensana.co.uk
Tim George, Chief Executive Officer
Rob Kaplan, Chief Financial Officer
