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27 Feb

Pensana makes progress on Longonjo project financing

London-listed rare earths miner Pensana has inked a non-binding term sheet with lenders to secure up to $156 million in financing for the Longonjo project, in Angola. Under the preliminary agreement, the lenders can provide up to 50% of the total loan, Pensana says, without elaborating. The company owns 84% of Ozango Minerais, the wholly-owner of Longonjo. The debt facility will provide limited recourse, senior secured project finance for the Longonjo mine, flot…
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