Name of the Project
Longonjo neodymium/praseodymium project.
Location
Huambo, Angola – 4 km from a modern rail line leading directly into the Atlantic Ocean Port of Lobito.
Project Owner/s
Pensana Rare Earths holds an 84% interest in Longonjo through its 84% holding in Angola-registered company Ozango Minerais, which, in turn, owns 100% of the mining licence.
The Angolan government holds a 10% interest and the company’s Angolan partners hold the remaining 6%.
Project Description
Longonjo is one of the biggest rare earths deposits in the world, with an initial 20-year mine life.
The project has total proven and probable reserves of 30.1-million tonnes grading 0.55% neodymium/praseodymium oxide for 166 000 t neodymium/praseodymium and total rare-earth oxides (TREOs) of 767 000 t.
The mine execution plan is based on a staged development of the mine and processing facilities.
At full production, once the phased development is complete, the Longonjo mine will target production of up to 38 000 t/y of mixed rare-earth double sulphate or mixed rare-earth carbonate (MREC), containing 14 000 t of TREOs and up to 4 400 t of neodymium/praseodymium oxides, equating to about 5% of the worldwide production of neodymium/praseodymium oxides a year for downstream processing or to be sold on the international market.
Initial feedstock will be shipped as a clean, high-purity mixed rare earth sulphate to Pensana’s Saltend rare-earth oxide separation facility, in the UK.
Potential Job Creation
The mine will employ about 650 people during construction and will create 420 permanent high-value jobs.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
Initial capital costs are estimated at $200-million.
Planned Start/End Date
The project can be put into production in less than 18 months.
Latest Developments
An announcement is expected to be made in the first quarter of 2024 regarding the financing of the upfront capital expenditure needed to develop the Longonjo project.
Financing is being worked on by sovereign wealth fund Fundo Soberano de Angola and financial institution Absa, along with other African multilateral agencies.
The upfront capital cost of $200-million, with about $105-million deferred until Year 3, pertains mainly to plant expansion, grid connection and a rail spur.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Pensana Rare Earths, email admin@pensana.co.uk orir@pensana.co.uk.