“The first mission will be to build strategic autonomy for the rare earths and magnets value chain” EU Commission
On the same day that US President Trump signed an executive order aimed at expanding domestic production of rare earths the EU launched the European Raw Materials Alliance aimed at strategic autonomy on raw materials such as rare earths.
The US order which declares a national emergency in the mining industry, directs the Interior Department to explore using the Defense Production Act to hasten the development of mines.
Recognising that Europe’s own resources are limited and the very strong anti-mining lobbies in many European countries, EU Commissioner Thierry Breton said:
“The first mission will be to build strategic autonomy for the rare earths and magnets value chain.
We want to forge partnerships with third countries… such as better integrating African countries into European value chains.”
Pensana is rapidly advancing its Longonjo project - one of the world’s largest resources of magnet metal rare earths - as the first major rare earth mine to be brought online in over a decade.
The access to high quality infrastructure, notably the zero carbon hydro-electric power, highlights the potential for Longonjo to be brought online as a sustainable supplier at a time when there is this growing concern around the provenance of the rare earth supply chain.
Paul Atherley Chairman commented:
“Both the US and the EU are concerned about the provenance and sustainability of rare earth magnet metal supply chain.
With financial backing from the Angola Sovereign Wealth Fund and world class infrastructure we are in a very strong position to bring Longonjo online as one of the world’s most sustainable suppliers on the magnet metal supply chain.”
For further information, please contact, CEO Tim George or Chairman Paul Atherley at [email protected]or visit www.pensana.co.uk
Buchanan (UK Financial PR): Bobby Morse / Augustine Chipungu /James Husband at[email protected]
