Pensana Rare Earths lists on LSE
ASX-listed Pensana Rare Earths started trading on the LSE on July 6.
The company has more than 188.2-million ordinary shares in issue and is not raising any funds.
Chairperson Paul Atherley says the $16-trillion post-Covid stimulus programmes that have been announced globally are “transforming the renewable energy sector, supercharging the demand for critical rare earth magnet metals”.
With no new rare earth mines in construction, magnet metal prices are forecast to rise strongly over the next few years.
With Angolan Presidential approval and financial backing from the company’s major shareholders, the Angola Sovereign Wealth Fund and UK institutional investors, Atherley says the company is on track to bring online the first major rare-earth mine in over a decade to meet the growing demand for the metals critical to the green energy revolution.
“Our listing in London provides UK investors with an opportunity to gain a direct exposure to the metals critical to the burgeoning [electric vehicle] and offshore wind sectors.”
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