TIDMPRE
RNS Number : 6722D
Pensana Rare Earths PLC
02 November 2020
2 November 2020
Appointment of Rt Hon Baroness Northover PC as Non-Executive
Director
Pensana Rare Earths Plc (LSE:PRE, ASX:PM8) ("Company") today
announces the appointment of Rt Hon Baroness Lindsay Northover PC
as a Non-Executive Director of the Company with immediate
effect.
Baroness Northover (66), the Prime Minister's former Trade Envoy
to Angola (2016-2020) and Zambia (2017-2020) and Africa Minister
for the Department for International Development ("DFID") (November
2014 - May 2015), joins the Pensana Board as one of four
independent Non-Executive Directors (
https://pensana.co.uk/directors-management/ ).
Baroness Northover has been at the core of the recent successful
development of the UK/Angola bilateral relationship which has seen
significant progress since the General Co-operation Agreement
between the UK and Angola was signed in 1986.
The bilateral agreement has benefitted from a number of private
industry initiatives which include the opening and widening of the
UK's credit line for exports to Angola from US$70m in 2009 to circa
US$1bn in 2020 through the UK Export Finance department (
https://www.gov.uk/government/organisations/uk-export-finance
).
Paul Atherley, Chairman of Pensana, commented:
"The Board of Pensana warmly welcomes Baroness Northover as a
Non-Executive Director.
It is no longer acceptable for miners and processers to supply
materials to the green economy unsustainably. The proposed changes
in EU legislation reflect this growing sentiment.
We are delighted at the progress we have made in advancing the
Longonjo project as one of the world's most sustainable mines and
with the substantial benefits the investment will bring to the
local community and to the people of Angola.
Baroness Northover's considerable experience in Africa over many
years, and in particular her involvement in Angola during its
economic and political transformation over the past four years will
be a major asset to the Company.
She is particularly delighted with our plans to establish the
world's first sustainable magnet metal supply chain in the UK to
supply the burgeoning EV and Offshore Wind industries and we look
forward to her assistance in advancing the project in partnership
with the various stakeholder groups."
Baroness Northover, Non-Executive Director of Pensana,
stated:
"I am absolutely delighted to be joining the Board of Pensana at
this critical time as the world seeks to combat climate change.
We must be hugely ambitious if we are to meet the world's
climate goals. Scaling up the production of the metals necessary to
power the electric vehicle revolution and ensure that wind power
represents a scalable source of energy production is essential if
the world is to "build back better" as we come out of the current
pandemic.
I have admired Pensana's work both in Angola and globally, for
some time. Their mission critically aligns with the global aim of
acting in an environmentally sustainable way. This is especially
valuable to Angola as it seeks to diversify away from oil into
sustainable industries.
This is an exciting time for these new approaches and
technologies."
Regulatory information required on Baroness Northover - current
directorship:
AgDevCo Holdings CLG, Member of Board (2019 - date)
There are no further disclosures required under Rule 9.6.13R of
the Listing Rules of the UKLA in respect of the appointment of
Baroness Northover.
Authorised by the Board of Pensana Rare Earths Plc
For further information:
Pensana Rare Earths Plc
Website: www.pensana.co.uk
Paul Atherley Chairman / Tim George CEO contact@pensana.co.uk
Buchanan (UK Financial PR) +44 (0) 207 466 5000
Bobby Morse/ Augustine Chipungu /James pensana@buchanan.uk.com
Husband
About Pensana Rare Earths Plc
Pensana is a rapidly growing sustainable resources company with
shares trading on the London Stock Exchange's Main Market for
listed securities (PRE:LSE) and on the Australian Stock Exchange
(PM8:ASX).
Pennsana has appointed the Wood Group to undertake a study into
the establishment of an integrated rare earth processing facility
in the UK ("the Wood Group Study") with a view to creating the
world's first sustainable magnet metal supply chain.
Having progressed the design of the Longonjo project to include
the production of a mixed rare earth carbonate, Pensana now has a
unique opportunity to explore the potential for it to make one
further step downstream and to create additional value by
establishing a rare earth oxide production facility in the UK.
By linking a mid-stream magnet metal supply with downstream
magnet manufacturing capacity there is the potential to create a
sustainable magnet metal supply chain at a time of increasing
concern over the provenance of these critical metals for the
electric vehicle and Offshore Wind Turbine industries.
Following the recent resource upgrade, the Longonjo project is
now one of the world's largest known rare earth resources.
Thierry Breton, the EU's internal market commissioner, recently
announced the establishment of a European Raw Materials Alliance
recognizing that the EU needs to establish sustainable supply and
processing capacity of rare earths to support the UK government's
plans for the UK to become the Saudi Arabia of wind. Pensana is
focused on this broader context.
As the Angolan government continues to diversify its economy
away from oil and gas and diamonds and to develop its agriculture,
tourism and mining sectors, Longonjo is the flagship mining project
and is receiving strong support both within the community and from
government at all levels.
The Company has ongoing consultation with the local community
and elected authorities and is working closely with them to ensure
that the benefits of the project in terms of training, jobs and
broad community support meet the aspirations of as many
stakeholders as possible.
As the Company continues on its path to building one of the
world's lowest carbon footprint mines it also strives to be a
trusted partner for its employees, stakeholders and the communities
where it operates. The Pensana team is particularly passionate
about developing young Angolan professionals, especially women in
STEM, engaging responsibly with the environment and broad social
engagement with the local community.
Across the Company, at every level, the Pensana team is
committed to sustainable value creation and to the advancement of
the UN Sustainable Development Goals. The project is being planned
to the highest ESG standards and the Company is conducting a
detailed assessment of the appropriate international ESG standards,
initiatives and reporting frameworks to adopt to ensure the Company
remains best in class as the project moves into the development
phase.
With Presidential approval for the mining licence and strong
financial backing from FSDEA, the Angolan Sovereign Wealth Fund
which now holds a 23% stake in the Company, Pensana is in a strong
position to bring the project online as the world's first
sustainable supplier of critical magnet metal rare earths.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOAEAKENADKEFFA
(END) Dow Jones Newswires
November 02, 2020 02:00 ET (07:00 GMT)
Pensana (LSE:PRE)
過去 株価チャート
から 6 2024 まで 7 2024
Pensana (LSE:PRE)
過去 株価チャート
から 7 2023 まで 7 2024