Pensana awarded Sustainability Gold by EcoVadis

Pensana (PRE.L) is pleased to announce that it has been awarded a Gold Medal by EcoVadis, a leading sustainability ratings provider, placing it among the top 5% of the companies assessed.

Tim George, Pensana CEO, commented: “We have strong demand for our rare earth products and this recognition from EcoVadis emphasises the very high standards of sustainability our customers can rely on from us.

The award represents the culmination of the strong focus on sustainability by the Pensana team notably Danny McNeice (Sustainability Manager), Magu Adriano (Social and RAP Manager), Benedito Dumbo (Longonjo Site Manager) and Henda Guimarães (Environment Coordinator).

Angola was one of the biggest gainers in the recently published Fraser Institute’s annual survey of mining jurisdictions attractiveness and a big part of this re-rating was the supportive fiscal terms and the excellent infrastructure which each play their part in achieving high levels of sustainability.

We are also extremely appreciative for the ongoing support from the Angolan Sovereign Wealth Fund and are aiming to build on this support by making Angola one of the world’s most sustainable suppliers of rare earths.”

Pensana will continue to operate under the EcoVadis tracking and reporting system, as leadership in global sustainability is critical to our long-term growth strategy.

About Longonjo

The electrification of motive power through EVs and Wind Turbines is the biggest energy transition in history and is forecast to generate a demand growth for magnet metal NdPr of 7.5% CAGR over the next decade.

Pensana owns one of the world's largest undeveloped rare earth mines, and one of only three with a JORC Reserve >100,000 tonnes of NdPr.

The upfront capital cost of US$217 million for the fully permitted mine and processing facilities is amongst the lowest amongst its peers making Pensana highly competitive.

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