Business
MOU with ReElement Technologies to develop a ...
MOU with ReElement Technologies to develop a ....
About this update from Pensana Plc
[{"type":"text","content":"\n\n \n \n\n\n\n\n23 June 2025 THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION Pensana Plc(\"Pensana\" or the \"Company\") MOU with ReElement Technologies to develop a sustainable rare earth supply chain Pensana Plc is pleased to announce the signing of a Memorandum of Understanding (“MOU”) with American Resources Corporation (NASDAQ:AREC) (“American Resources”) and ReElement Technologies (“ReElement”) a leading U.S. critical mineral refiner supplying the automotive, defense, and advance manufacturing industries in the US. Key terms of the MOU include: \tA shared commitment to develop a sustainable, independent rare earth supply chain to meet rising demand from U.S. and allied defense and commercial industries.\tA proposed offtake of up to 20,000 tonnes per annum of ultra-clean Mixed Rare Earth Carbonate (“MREC”) from the Longonjo mine over a five-year period, with pricing to be agreed.\tIntegration of ReElement’s advanced refining platform, which offers a high-throughput, low-waste, and cost-effective process to produce ultra-pure separated rare earth oxides.\tStrategic cooperation to strengthen and secure the global rare earth value chain and explore additional joint opportunities.\tLeverage of the Lobito Corridor in Angola for low-cost, efficient access to global export markets. Since 2023, ReElement has been refining rare earth materials for customer validation and for commercial sale at its Noblesville, Indiana facility. The company continues to expand capacity, including major development at its large-scale Marion, Indiana supersite, to meet growing demand from U.S. and allied defense and commercial industries. Mark Jensen, CEO and Chairman of ReElement, commented, “Our partnership and MOU with Pensana represent a major advancement toward building a true mine-to-magnet global rare earth supply chain. Securing mineral independence requires innovation, not imitation - and legacy solvent-based refining methods simply won’t be competitive or scalable in the modern market. We had the opportunity to welcome the Pensana team to our facilities recently where we discussed production schedules, quality of product and long term vision. We couldn’t be more impressed by their efforts and the opportunity for our partnership together to completely disrupt the global supply chain ...