Pensana Plc - Trump announces US$3 billion support for U.S. critical minerals supply chains
PR Newswire
LONDON, United Kingdom, August 10
10 August 2026
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Pensana Plc ("Pensana" or the "Company")
TRUMP ANNOUNCES US$3 BILLION SUPPORT FOR U.S. CRITICAL MINERALS SUPPLY CHAINS
Pensana CEO Tim George was one of the few international mining executives invited to a private briefing with the President of the United States Donald Trump, Secretary of State Marco Rubio and other senior State Department officials which outlined the Administration's support for establishing independent U.S. supply chains for rare earths and other critical minerals.
The Administration's stated objective is to secure reliable, non-Chinese supply of the rare earth elements underpinning defence systems, electrification, robotics and automation.
Pensana was invited as one of the limited number of international developers of scale, positioned in the near term to supply rare earths to the U.S. and allied nations.
Longonjo is one of the largest new independent sources of rare earths outside China. The US$250 million development is in construction and approximately 25% complete with first Mixed Rare Earth Carbonate (MREC) 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 4.
A heavy rare earth recovery circuit design is underway, targeting production of over 122 tonnes per annum of dysprosium and terbium which will position Longonjo among the world's largest heavy rare earths producers and a supplier at scale to the United States, Japan and Europe.
Following the Presidential briefing Tim George had the opportunity to discuss the Company's role in supporting the security of rare earths supply into the United States with David Copley of the Executive Office of the President and National Security Council.
Tim George commented:
"It was a privilege to be invited to Washington for this important Presidential briefing which is very supportive of our U.S. Mine to magnet strategy and NASDAQ listing."
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-
For further information, please contact:
Shareholder/analyst enquiries:
Pensana Plc
Paul Atherley, Chairman
IR@pensana.co.uk
Tim George, Chief Executive Officer
Rob Kaplan, Chief Financial Officer
