28
Jun
18:15
Pensana revises Angolan strategy to bring rare earth mine online
UK-listed rare earth developer Pensana announced on Wednesday changes to its financing and development strategy to put the Longonjo operation in Angola into production, Kallanish reports.
The mine will now be developed in stages, which will enable the reduction of upfront capex to $200 million. The remaining $105m spending will be deferred until year three, applied mostly to grid connection, rail spur and expansion costs.
Under the revised plan, Angola’s …
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