Pensana Rare Earths PLC (GB:PRE) has released an update.
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Pensana Rare Earths PLC, an emerging rare earth miner, has received a $3.4 million grant from the U.S. International Development Finance Corporation to support feasibility studies aimed at expanding the Longonjo mine and developing the Coola project in Angola. The studies, funded by the grant, will explore doubling the mine’s capacity and adding downstream refining, which could lead to further financial support for the necessary capital. The company also announced a reduction in board size with the resignation of two non-executive directors.
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