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Pensana receives approvals for the $268m needed to develop Longonjo
London-listed magnet metal supply chain developer Pensana has received approvals for the full financing of about $268-million for the development of its Longonjo rare earth project, in Angola. The board of the Africa Finance Corporation (AFC) has approved its $81.2-million participation in a $160-million syndicated loan facility alongside South African financial services provider Absa Bank, subject to the conclusion of definitive loan documentation and the fulfilment of conditions precedent contained therein.
London-listed magnet metal supply chain developer Pensana has received approvals for the full financing of about $268-million for the development of its Longonjo rare earth project, in Angola. The board of the Africa Finance Corporation (AFC) has approved its $81.2-million participation in a $160-million syndicated loan facility alongside South African financial services provider Absa Bank, subject to the conclusion of definitive loan documentation and the fulfilment of conditions precedent contained therein.
