Following its initial investment in March, the Angolan Sovereign Wealth Fund (FSDEA), has invested a further A$7.25-million in rare earth miner Pensana Rare Earths’ Longonjo project in the province of Huambo, Angola.
The funds will advance Pansana’s flagship Longonjo mine, enabling it to complete the engineering design and test work to reach bankable feasibility status later this year, list on the LSE in July, commence exploration on the recently awarded Coola project, also in Angola, and to provide general working capital.