Home / Business and Economy / Pensana Keeps Longonjo Rare Earth Project on Budget and Schedule
Pensana Keeps Longonjo Rare Earth Project on Budget and Schedule
7 Aug
Summary
- Pensana confirms $217M budget for Longonjo project in Angola
- Mobilized all engineering partners, drilling to commence on tailings facility
- Longonjo project contains 139,457 tons of neodymium-praseodymium
Pensana PLC, a rare earth exploration and development company, has announced that the $217 million budget for its flagship Longonjo project in Angola remains firmly on track as of August 7, 2025. The company has already mobilized all engineering delivery partners, with SRK Consulting Ltd. poised to commence drilling on the tailings storage facility to define the final excavation profile.
Upon completing the tailings storage facility drilling, the contractor will remobilize to the Coola exploration project to commence a drilling program. Pensana has already invested $70 million in the Longonjo rare earth project, which is located in the Huambo district of Angola.
"We are extremely pleased with the excellent progress on the Longonjo project. The confirmation that our capital costs remain firmly within budget -- and that our development timeline is intact -- is a great result for the team," said Pensana CEO Tim George. The Longonjo project is believed to contain 139,457 tons of neodymium-praseodymium, making it one of the world's largest and highest-grade rare earth deposits.
