According to foreign media reports, Pensana, a London-listed rare earth developer, has signed a memorandum of understanding (MOU) with Toyota Tsusho, a multinational subsidiary of Japan's Toyota, to purchase 20,000 mt per year of mixed rare earth carbonate from Pensana's Longonjo mine in Angola. The acquisition will last for five years, and the price is yet to be negotiated. Toyota Tsusho intends to collaborate with Pensana to develop a new, independent, and sustainable rare earth material supply chain, utilizing the Indian processing plant operated by its wholly-owned subsidiary, Toyotsu rare earth India.