Confirmed discussions with DFC and EXIM in Washington with ReElement

[Ian Brown]

Pensana Executives meet with senior White House Officials to discuss ​ long term Rare Earth supply into the US​ CEO Tim George and CCO Will Izod met with David Copley Deputy Director for Critical and Emerging Technology at the White House National Security Council to discuss the establishment of a secure and resilient rare earth supply chain into the United States. The meeting concluded a week of high-level engagements in Washington during which representatives from Pensana and strategic partner ReElement held discussions with a number of Government agencies about the potential for Longonjo to become a strategic supplier of rare earths for processing in the US. An important consideration was that Longonjo is on track for first production in early 2027, immediately ahead of the implementation of The Defense Federal Acquisition Regulation Supplement, which will limit the import of rare earths supplying the defense sector to allied countries only. The Pensana team outlined how one of the largest resources of rare earths in the world, combined with ReElement’s domestic processing capabilities, could provide a long term secure supply of rare earths from the allied nation of Angola, supporting the development of domestic manufacturing capacity in the US. Mr. Copley reaffirmed the current Administration’s commitment to strengthening allied partnerships for critical minerals and confirmed support for initiatives to secure supplies of clean rare earth materials into the United States. The meetings held across Washington included the Export-Import Bank of the United States (EXIM), the International Development Finance Corporation (DFC), the US Trade and Development Agency (USTDA), the Department of Commerce, the State Department, and the Office of Senator Ted Cruz, Chair of the Subcommittee on Africa and Global Health Policy.

Paul Atherley, Chairman of Pensana Plc, commented: "These meetings in Washington are the culmination of many previous discussions and mark an important step in positioning Pensana as a trusted partner to the US for a reliable long-term supply of rare earths. We are committed to becoming a sustainable supplier of rare earths and with China continuing to tighten control over global supply there can be no better time to establish an independent supply into the US from a reliable partner. ” These discussions come at a time when the South China Morning Post has reported that China has announced tightened rules over the mining and processing of rare earths, extending controls to imported minerals and requiring enterprises to report the flow of the strategic materials monthly. The new rules specify that China’s quota system applies not only to domestically produced materials but also to those coming from abroad for refining – a change that some fear could put further pressure on global supply.

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