Highlights

• Pensana Plc receives Letter of Interest from U.S. EXIM Bank for US$160 million debt facility to accelerate development of its Longonjo Rare Earth Mine in Angola, potentially financing 100% of debt requirements.
• Strategic partnership with VAC's U.S. subsidiary eVAC will supply neodymium-praseodymium directly to a South Carolina magnet plant, creating America's first mine-to-magnet supply chain outside Chinese control.
• Production scheduled for 2027 with potential acceleration to 2026, positioning Pensana as a pivotal link in U.S. critical mineral resilience strategy for EVs, wind turbines, and defense systems.

---

Pensana Plc (opens in a new tab) (LSE: PRE) announced it is in advanced discussions with the Export-Import Bank of the United States (EXIM) for a US$160 million debt facility to accelerate development of its Longonjo Rare Earth Mine in Angola. EXIM has issued a Letter of Interest (LOI) to potentially finance up to 100% of the debt, a move that could fast-track the creation of a U.S.-anchored mine-to-magnet supply chain.

This milestone follows Pensana’s Memorandum of Understanding (MOU) with Vacuumschmelze GmbH & Co. KG (VAC), whose U.S. subsidiary eVAC recently launched a rare earth magnet plant in Sumter, South Carolina. Under this partnership, Longonjo will supply neodymium-praseodymium (NdPr) directly to eVAC, aligning with EXIM’s Supply Chain Resiliency Initiative (SCRI)—a framework designed to secure critical minerals and reduce dependence on Chinese rare earths.

Pensana also plans to take an active front-office role, marketing and selling directly into key vertical sectors, further embedding its presence in the downstream magnet value chain.

Financing America’s Critical Mineral Resilience

EXIM’s involvement represents more than financial support—it signals U.S. strategic intent to secure reliable rare earth feedstock from allied partners. The Longonjo project—scheduled to begin production by 2027, with potential acceleration to 2026—positions Pensana as a pivotal link between African resource development and U.S. reindustrialization.

Chairman Paul Atherley noted that EXIM’s potential participation “expands financing capacity beyond commercial markets,” helping advance production timelines and strengthen the supply of materials critical to EVs, wind turbines, and defense systems. This step demonstrates that Washington’s rhetoric on supply chain resilience is now translating into real industrial execution.

Market Insight and Investor Context

Pensana’s London-listed shares (PRE.L) have been volatile but strengthening, reflecting investor optimism over U.S. policy alignment and strategic partnerships. The company’s market capitalization still trails peers such as Arafura Rare Earths (ASX: ARU) and Lynas (ASX: LYC), indicating upside potential if EXIM financing and offtake commitments are finalized.

Fundamentally, Pensana’s progress now hinges on timely delivery at Longonjo and final credit approval from EXIM’s board.

Critical Questions for Investors

• Will EXIM’s Letter of Interest advance to full credit approval?
• Can Pensana navigate any residual Angola’s infrastructure and governance challenges to meet its 2026–27 timeline?
• Could this Africa-to-America model scale to support the Pentagon’s magnet supply chain requirements?

REEx Reflection

If executed as announced, EXIM’s involvement could make Pensana the first non-Chinese supplier to feed a fully U.S.-based magnet manufacturing ecosystem, signaling that the long-promised Western rare earth diversification is finally materializing.

©!-- /wp:paragraph -->