Update on US$25 million Longonjo mine finance
Pensana Plc has received the final US$25 million equity tranche from the Angolan Sovereign Wealth Fund for the Longonjo mine, which is now being deployed for construction. This funding reduces Pensana's majority ownership in Ozango Minerais to 68.4%, but further changes are anticipated due to a previously announced US$100 million strategic investment, which is expected to increase Pensana's effective ownership.
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Longonjo Main
Finance announcement of
15 May
2025
wherein
the
Company
announced the US$25 million equity tranche ("
the
Financing
") to be deployed by
the Angolan Sovereign Wealth Fund
("FSDEA")
at subsidiary level
into Ozango Minerais sa
("Ozango")
, the final funding tranche of the Financing has been received and is currently being
fully deployed towards the Longonjo main construction workstreams.
Pursuant to receipt by Ozango of the US$25 million, the Company's majority ownership in Ozango should reduce from 84% to 68.4%. However, as part of the US$100 million strategic investment announced on 9 December 2025, it is anticipated that the effective ownership positions will be subject to further change and as a result Pensana's ownership is expected to increase and this will be communicated to the market accordingly in due course.
-
For
further
information,
please
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.