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Pensana PLC shares rose on Thursday after it announced the results of a detailed flow sheet technical review at the Longonjo rare earth project in Angola. Shares in Pensana were 6.3% higher at 96.09 pence in London on Thursday afternoon. The London-listed rare earths developer said that following a detailed evaluation of the Longonjo flow sheet, it has identified the scope to increase, by more than five times, the content of heavy rare earths within its high-value mixed rare earth carbonate product. Pensana said the recovery of dysprosium and terbium, ‘two of the most valuable heavy rare earth elements’, could be ‘significantly increased’ through the installation of a selective heavy rare earth oxide recovery circuit prior to the product precipitation process stream. ‘The findings suggest that the current 30 tonnes per annum of HREO contained within the MREC can be increased to up to 160 tonnes per annum of HREO comprising 130 tonnes of DyO and 30 tonnes of TbO in the MREC product,’ the firm said. ‘Early discussions with potential offtake partners have indicated that this increased content of HREO in the MREC product would strengthen the demand and valuation for this clean, high-value product.’ Pensana said the study is currently finalising the capital and operating cost of the HREO recovery circuit. However, it added that it expects the projected increase in revenue of the high value HREO, which trades at $208,000 per tonne for Dysprosium oxide and $918,950 per tonne for Terbium oxide, to demonstrate that the HREO will make a strong positive economic contribution to the project. ‘This evaluation has set Longonjo out as one of the few suppliers coming online in the near term capable of supporting the full mine-to-magnet supply chain with both light and heavy rare earths,’ commented Chief Executive Officer Tim George. ‘Our offtake partners have been clear about their requirements and in response this circuit upgrade will further enhance Longonjo’s importance within the rare earth landscape.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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