On Tuesday 9 December 2025, Pensana announced that it has concluded a USD 100 million subscription for new ordinary shares by a strategic investor in support of the company’s U.S. Mine-to-Magnet strategy. Net proceeds from the private placement will be used for development and expansion of the Longonjo rare earth mine in Angola, as well as for downstream investments ahead of the Nasdaq listing in 2026.
Pensana is an LSE listed company with a market capitalisation of USD 425 million (pre-money), establishing a U.S. Mine-to-Magnet supply chain in partnership with eVAC Magnetics in South Carolina with backing from the U.S. Government. The Longonjo mine in Angola is the largest undeveloped rare earth mine globally, and is expected to commence production in early 2027, generating an average life-of-mine EBITDA of USD 263 million p.a. and a project payback of 2 years.
ABGSC thanks Pensana for the opportunity to partner as sole financial advisor and intermediary in connection with the transaction.
