https://www.miningweekly.com
Automotive|Building|Business|Design|Engineering|Projects|Sustainable|Equipment
Automotive|Building|Business|Design|Engineering|Projects|Sustainable|Equipment
automotive|building|business|design|engineering|projects|sustainable|equipment

M&G, Angolan Sovereign Wealth Fund invest a further $10m in Pensana

An artist's impression of Pensana's Saltend facility in the UK

An artist's impression of Pensana's Saltend facility in the UK

28th April 2023

By: Creamer Media Reporter

     

Font size: - +

Two of London-listed Pensana's major shareholders M&G Investment Management and the Angolan Sovereign Wealth Fund (FSDEA) are investing a further $10-million in the company, raising their combined holdings to 38.6%.

“We are pleased to have the continued support of M&G and FSDEA, two of our major shareholders. This additional investment reflects their confidence in our strategy and growth prospects, and we are grateful for their ongoing commitment.
 
"The fact that M&G and FSDEA have also requested the right to participate in any future equity raises is a clear endorsement of our business, demonstrating long-term alignment with our goals," comments Pensana chairperson Paul Atherley.

He adds that the company looks forward to progressing its Saltend and Longonjo projects, "delivering the world's first independent and sustainable magnet metal rare earth supply chain and meeting the growing needs of [automotive] original-equipment manufacturers”.

Pensana is building the Saltend Chemical Park, in the Humber Freeport, in the UK, that will process high-value raw materials from its hydroelectric-powered mine at Longonjo, in Angola.

The company earlier this month confirmed it was at an advanced stage in its financing of both the Saltend and Longonjo projects.

The total capital requirement for both projects is $550-million. 

Both projects are fully permitted, with front-end engineering design studies having been completed and early works programmes under way at each site.


 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.118 0.156s - 108pq - 2rq
Subscribe Now