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Pensana discovers rare earths in Angola

Pensana (LON: PRE), a mining and exploration company specializing in rare earths, recently made a significant announcement regarding its Coola exploration project in Angola.

projet Coola

The Coola project is located approximately 160 kilometers east of the Port of Lobito and covers a vast area of 7,456 square kilometers. It consists of three highly promising exploration targets: Sulima West carbonatite, Benga Novo alkaline complex, and Coola carbonatite. All of these targets are located between 40 and 100 kilometers north of Pensana's Longonjo project.

The company has confirmed that the Sulima West laterite target, located within this project, contains three main types of rare earth minerals. This discovery is of significant importance in the rare earth sector because these minerals are essential for the production of various advanced technologies, including permanent magnets used in electric vehicles, wind turbines, and electronic devices.

More specifically, the Sulima West laterite has been identified as containing bastnaesite, monazite, and florencite, all of which are crucial rare earth minerals. This confirmation is the result of an in-depth mineralogical study conducted by Pensana's team. These rare earth minerals are vital for various technological applications due to their unique magnetic and luminescent properties.

Grant Hayward, Pensana's Exploration Manager, expressed optimism about this promising discovery, stating, "We are encouraged that the initial mineralogical study has confirmed the processing potential of the rare earth host minerals for both Sulima West laterite and Coola Carbonatite." This confirmation paves the way for processing and utilization opportunities for these minerals, potentially having a significant impact on the rare earth market.

Furthermore, Pensana is seriously considering the possibility of optimizing ore processing on-site, potentially obtaining high-quality raw materials near the current site. This strategy could contribute to cost reduction and enhance Pensana's competitiveness in the global rare earth market.

This news also had a positive impact on the stock market, with Pensana's shares increasing by 3.8% on the London Stock Exchange the Friday following the announcement. The company's market capitalization now stands at $123 million.

It's evident that Pensana is well-positioned to tap into the rare earth resources in this region, providing an exceptional investment opportunity in a rapidly growing market. To further explore investment possibilities in rare earths, consider seeking advice from experts such as ElioStrategy for well-informed strategic guidance. Request your brochure at:

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