The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPensana Plc Regulatory News (PRE)

Share Price Information for Pensana Plc (PRE)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 22.70
Bid: 22.70
Ask: 23.90
Change: 0.65 (2.87%)
Spread: 1.20 (5.286%)
Open: 23.50
High: 23.50
Low: 22.60
Prev. Close: 22.65
PRE Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Operational Update for Saltend and Longonjo

28 Nov 2022 07:00

RNS Number : 6977H
Pensana PLC
28 November 2022
 

28 NOVEMBER 2022

 

 

Pensana Plc

("Pensana" or the "Company")

 

Operational Update for Saltend and Longonjo

 

 

Following the Company's operational update of 26 October 2022, Pensana is pleased to report that Project Delivery Teams for each of the Saltend and Longonjo projects have moved on-site and have commenced the early construction programmes.

Saltend

 

At Saltend, the Company's principal contractor, Wood, is on-site, overseeing Yorkshire Water's nominated contractor for the relocation of existing pipework along the site's western boundary. This is progressing well as part of the activities to enable the main contractual works to commence early in the New Year.

The contracts for the earthworks have been assessed for imminent award, per the construction plan schedule, and are overseen by the Wood, which has been appointed to supervise these contracts alongside Pensana's recently appointed owners' team construction manager, Mark O'Rourke. 

Saltend now has 24/7 site security following the installation of the construction offices, security and welfare cabins and the development of the site access locations.

Longonjo

 

The Longonjo earthworks and civils contractor, Grupo Nov, has mobilised to site. Ground clearing of the area for the main construction camp has been undertaken. The fabrication of the construction camp buildings by Bushtec at their plant in South Africa, is progressing well and is on schedule for delivery to site in January 2023.

Kick-off site sessions were held with the sub-contractors appointed for site electrical reticulation (Electra) and main HT/LT sub-stations (Enerline), who completed their pre-mobilisation site inspections alongside the Pensana owners' team.

Contractors associated with the process water supply (ERM), tailings storage facilities (SRK), and waste management services (AES) have participated as part of the ongoing detailed design development workstreams.

Under the Stakeholder Engagement Program, updates on the Longonjo site activities were presented by Project Director, Kevin Botha, to the Governor of Huambo and the Longonjo Administrator.

Sessions have been held with Port of Lobito operations and local suppliers of construction materials to confirm arrangements for the main construction requirements.

 Environment Social Governance (ESG)

 

Pensana's ESG commitment to ensure direct long-term economic benefit to Longonjo's local communities is progressing well. Demonstration farming plots have been installed on a dedicated area with multiple purposes of livelihood restoration. This has demonstrated increased yields and crop optimisation, providing food security for the Longonjo operations and delivering economic benefit to the region. The demonstration plots also allow Pensana to assess the most successful strategies to increase and enhance the natural habitat, leading to an overall biodiversity net gain.

Operational readiness

 

Recruitment of key operational personnel for both Saltend and Longonjo is continuing. The intention is for key operators to be part of the construction process to assist them moving seamlessly into commissioning.

 

Tim George CEO commented:

 

"Following our previous update in October we are extremely pleased with the progress at both sites. Our early construction management team has continued to grow with the addition of Mark O'Rourke appointed as a construction manager in Saltend. The enabling works appointed last month are on-site delivering to project schedule and making good progress. These critical developments will allow us to move forward quickly in delivering independent and sustainable world-class rare earth facilities at both our operations." 

 

- 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

George Zacharias, Group Company Secretary

 

Media enquiries:

FGS Global:

Gordon Simpson / Richard Crowley Pensana-LON@fgsglobal.com

 

 

About Pensana Plc

The electrification of motive power is the most important part of the energy transition if we are to tackle climate change and one of the biggest energy transitions in history. Magnet metal rare earths are central to that transition, forming a critical part of the technology for efficient electric vehicle motors and offshore wind turbines.

Pensana plans to establish its Saltend processing hub as an independent and sustainable supplier of the key rare earth magnet metal oxides to a market which is currently dominated by China.

The US$195 million Saltend facility is being designed to produce circa 12,500 tonnes per annum of rare earth products, of which 4,500 tonnes will be neodymium and praseodymium oxide (NdPrO), representing over 5% of the world market in 2025.

Pensana's plug-and-play facility is located within the world-class Saltend Chemicals Park, a cluster of leading chemicals and renewable energy businesses in the Humber Freeport and will create over 500 jobs during construction and over 125 direct jobs once in production.

Powered by low-carbon offshore wind, it will be the first major separation facility to be established in over a decade and will become one of the few major producers located outside China.

Feedstock will be shipped as a clean, high purity mixed rare earth sulphate (MRES) from the Company's Longonjo low-impact operations in Angola. The mine's state-of-the-art concentrator and proprietary MRES processing plant are designed by Wood to the highest international standards.

The operations will be powered by renewable energy from hydroelectric power and connected to the Port of Lobito by the recently upgraded Benguela railway line.

Pensana believes that provenance of critical rare earth materials supply, life cycle analysis and GHG Scope 1, 2 and 3 emissions will all become significant factors in supply chains for major customers.

The Company intends to offer customers an independently and sustainably sourced supply of the metal oxides and carbonates of increasing importance to a range of applications central to addressing the energy transition.

Pensana is also aiming to establish Saltend as an attractive alternative to mining houses that may otherwise be limited to selling their products to China, having designed the facility to be easily adapted to cater for a range of rare earth feedstocks.

www.pensana.co.uk

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NRAEDLFLLFLEFBK
Date   Source Headline
14th Apr 20103:13 pmRNSScheme becomes effective
13th Apr 20104:23 pmRNSCourt order sanction Scheme
13th Apr 20108:00 amRNSSuspension - Pan Andean Resources plc
13th Apr 20107:00 amRNSSuspension of Trading in Pan Andean Shares
8th Apr 20104:23 pmRNSAmendment To Scheme Timetable
30th Mar 20105:00 pmRNSTotal Voting Rights
24th Mar 20104:42 pmRNSTR-1: Notification of Major Interest in Shares
24th Mar 20104:25 pmRNSDirector/PDMR Shareholding
22nd Mar 20102:29 pmRNSResult of Court Meeting and General Meeting
16th Mar 20104:09 pmRNSIssue of Equity
26th Feb 20107:00 amRNSOffer Update
24th Dec 20099:57 amRNSDirector/PDMR Shareholding
17th Dec 20097:00 amRNSHalf Yearly Report
9th Dec 20097:00 amRNSOffer by Petrominerales
28th Oct 200912:14 pmRNSAGM Statement
30th Sep 20099:59 amRNSPosting of Annual Report
29th Sep 20097:00 amRNSFinal Results
18th Jun 20097:00 amRNSOperational Update
19th May 20097:00 amRNSSeismic Acquisition Underway Over Block 114
15th May 20097:00 amRNSSurvey Over Block 141 Underway
20th Apr 20097:00 amRNSRe Agreement
19th Mar 20092:32 pmRNSChange of Adviser
6th Mar 20097:00 amRNSDrilling Report
26th Jan 20097:00 amRNSDirector/PDMR Shareholding
22nd Dec 200810:45 amRNSDrilling Report
18th Dec 20087:00 amRNSInterim Results
5th Nov 20087:00 amRNSDrilling Update
22nd Oct 200812:41 pmRNSAGM Statement
16th Oct 20081:15 pmRNSHolding(s) in Company
25th Sep 20087:00 amRNSFinal Results
24th Sep 200810:00 amRNSFarm Out to CEPSA Completed
19th Sep 20087:00 amRNSDrilling Report
16th Sep 20087:00 amRNSCompany Awarded Block 161
12th Aug 20087:00 amRNSCompletion of Seismic Program
7th Aug 20087:00 amRNSCommencement of Drilling
14th Jul 20084:00 pmRNSHolding(s) in Company
14th May 20087:00 amRNSTrading Update
8th May 20085:21 pmRNSHolding(s) in Company
29th Apr 200810:25 amRNSRe Agreement
24th Apr 20087:00 amRNSRecommencement of Production
25th Feb 200811:11 amRNSRe Joint Venture
19th Dec 20077:01 amRNSInterim Results
13th Nov 20077:00 amRNSTrading Statement
5th Nov 20077:00 amRNSRe Contract
1st Nov 200712:21 pmRNSAGM Statement
26th Sep 20077:01 amRNSFinal Results
12th Sep 20077:01 amRNSDrilling Report
28th Aug 20077:16 amRNSDrilling Report
16th Aug 200712:06 pmRNSAIM Rule 26
2nd Aug 20077:00 amRNSDrilling Report

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.