NewsFlash / Rare Earth / US and UK Enterprises Collaborate to Develop Anxi Rare Earth Resources
US and UK Enterprises Collaborate to Develop Anxi Rare Earth Resources
iconJun 24, 2025 13:16
Source:SMM
US rare earth element refiner ReElement Technologies has partnered with UK mine developer Pensana to supply and separate rare earths. ReElement's investor, American Resources, stated on June 23 that the two companies have proposed a five-year offtake agreement to purchase up to 20,000 mt of mixed rare earth carbonate annually from the Longonjo mine, with prices to be determined. The effective date of the agreement was not disclosed. Pensana has spent over $70 million in the past six years on exploration and research for the Longonjo rare earth project in Angola, which contains 139,457 mt of Pr-Nd oxide. The collaboration will include ReElement's separation project to produce ultra-pure rare earth oxides. Both companies aim to leverage Angola's rare earth resources to enter the global market in a cost-effective and efficient manner.

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