Pensana Plc - Strategic Investor Board Appointment

 

 

 

18 June 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Pensana Plc ("Pensana" or the "Company")

Strategic Investor Board Appointment

Pensana (PRE.LSE) is pleased to announce that Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri has joined the Board of the Qatar-backed Cascade Natural Resources Limited ("Cascade") and is fully supportive of Cascade's US$165million Strategic Investment into Pensana as announced on 4 March 2026.

The appointment reflects Cascade's growing international standing, and the strong backing of Qatar, as they look to advance their investment in Pensana and the Longonjo project, and further deepen their commitment to rare earth supply chains

Sheikh Dr Badr Al-Hajri, on joining the Cascade Board, said:

" I am honoured and delighted to join the Board of Directors of Cascade and to contribute to the company's strategic vision as it advances its investment in Pensana and the Longonjo project. This important investment reflects a forward-looking commitment to strengthening critical mineral supply chains and supporting the development of sustainable mining and processing capabilities - a sector that will play a pivotal role in powering future technologies, advanced manufacturing, and long-term industrial growth. I look forward to working with the Cascade team as it builds a leadership position in the rare earth sector ."

Paul Atherley, Chairman of Pensana commented:

"We very much welcome the support of Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri and the investment by Qatar-backed Cascade which will accelerate the development of Longonjo as one of the world's largest rare-earth mines and for the development of our downstream ambitions."

Lloyd Pengilly, Chairman of the Board of Cascade Natural Resources Limited, said :

" We warmly welcome Sheikh Dr Badr Al-Hajri to the Cascade Board. His appointment reflects the strong and committed support Qatar is bringing to Cascade as we pursue our ambition to build a world leader in the rare earth space. Our investment in Pensana and the Longonjo project is a significant step in that journey, and we are grateful for Qatar's backing and excited about what we can build together ."

About Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri

Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri is a senior figure across the Gulf and broader Arab world, with extensive experience spanning government, diplomacy, and international economic affairs. He has held senior positions within institutions operating under the umbrella of the League of Arab States and the Arab Economic Unity Council, representing twenty-two Arab member states across the Middle East, North Africa, the Gulf region and Africa. He brings to the Cascade Board deep networks across sovereign and institutional investor communities in the Gulf, as well as a long-standing commitment to fostering investment partnerships between the Arab world and international markets. His appointment strengthens Cascade's relationships with Qatari and broader Gulf investors as the company executes its critical minerals strategy.

 

About Cascade Natural Resources Limited

Cascade Natural Resources Limited is a Guernsey-incorporated investment company focused on building and investing in companies with the potential to become global leaders in the natural resources sector. Backed by Qatari capital, Cascade pursues a strategy of concentrated, high-conviction investments in assets across critical minerals and natural resources, targeting opportunities where focused management and strategic capital can create businesses of lasting global significance.

About Pensana

 

Pensana is developing one of the world's largest and highest-grade magnet metal rare earth mines which will produce initially 20,000 tpa of a clean high value MREC including both LREE and HREE. The plan is to expand production to 40,000 tpa of MREC once initial operations have been established.

The Longonjo operation will extract, concentrate, calcine and chemically refine the free dig material to produce a high-value MREC which will be railed 273 kilometers in containers to the Atlantic port of Lobito for export.

 

Pensana is looking to establish a world class fully integrated mine-to-magnet supply chain in partnership with U.S. partners and with support from U.S. Government.

 

The Longonjo mine is located adjacent to the Lobito rail corridor approximately 60 kilometers west of the provincial capital of Huambo in central Angola.

The project is currently under development, comprises an open pit, concentrator and recovery plants, tailings storage facility (designed to meet the requirements of the Global Industry Standard on Tailings Management), process water supply, bulk power supply, mine infrastructure, workshops, offices, accommodation village, recreational facilities, and other associated infrastructure.

 

The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No.596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain. The person responsible for arranging for the release of this announcement on behalf of the Company is Paul Atherley (Chairman).

-ENDS-

For further information, please contact: Shareholder/analyst enquiries: Pensana Plc

Paul Atherley, Chairman IR@pensana.co.uk

Tim George, Chief Executive Officer Rob Kaplan, Chief Financial Officer