Business
Longonjo Operations Update
Longonjo Operations Update.
About this update from Pensana Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n \n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \nPensana Plc\n(\"Pensana\" or the \"Company\")\n \nLongonjo Operations Update\n \nPensana Plc (LSE: PRE) is pleased to provide an operations update on the Longonjo rare earth project.\n \nHighlights\n \nFollowing the revised financing and development strategy announced on the 27 June 2023, which will see Longonjo fully funded into production on a staged basis, with the upfront capital expenditure reduced to US$200 million, the project team has been heavily focussed on the re-engineering design and the due diligence required for the financing, namely:\n \n\nRe-engineering of the mine and process plant to the Stage 1, US$200 million Capex design;\nPreferred vendor re-pricing for the revised equipment schedule;\nRedesign of the monthly mine schedule and Run-of-Mine blending strategy for years 1-5 to meet the redesign throughput rates;\nCompletion of the optimised Tailings Storage Facility (TSF) design; \nSite infrastructure development to facilitate commencement of main construction activities; and\nExecution of the Livelihood Restoration Programme arrangements with the local community under the Relocation Action Plan. \n \nEngineering Developments\n \nThe revised process plant design is a scaled-down version of the existing processing route with revised mining, comminution, flotation, thickening, calcining, leaching and product precipitation throughput rates. \n \nKey components of the redesign are:\n \n\nAll the main permits remain valid including the exploitation licence, the environmental and social impact assessment (ESIA), the construction permit, the Livelihood Restoration Programme and the Relocation Action Plan as developed in conjunction with the local community and the relevant provincial authorities;\nMinimising pre-production spend while ensuring that the project's potential for generating economic benefits on a larger scale is not compromised;\nProduction of a standardised, highly marketable, radionuclide-free, Mixed Rare Earth Carbonate;\nThe modular sulphuric acid plant is the pivot point around which the engineering and design work is currently being undertaken and optimised;\nThe historical metallurgical testwork and extensive pilot plant trials conducted in collaboration with ...