• Pensana plans a Nasdaq listing by Q1 2026 to attract U.S. investors.
• The Longonjo project in Angola aims to produce 20,000 tons of rare earths a year.
• U.S. and Japanese groups are already eyeing supply from the future mine.

Pensana Rare Earths announced yesterday it is considering a Nasdaq listing by the first quarter of 2026. The move is driven by strong U.S. interest in its Longonjo rare earths project in Angola, currently under development.

“Due to the interest in the Longonjo project in the United States and potential partners there, the Board of Directors are evaluating a potential listing for Pensana on the Nasdaq Stock Market (“Nasdaq”) in the United States, in addition to the Company’s listing on the London Stock Exchange,” the company said.

Longonjo is expected to become Angola’s first rare earth mine. It is projected to produce 20,000 tons of mixed rare earth carbonate (MREC) annually in its initial phase, with output doubling to 40,000 tons after expansion. The project has already drawn interest from companies such as U.S.-based ReElement, at a time when Washington is seeking to reduce its reliance on Chinese supply.

A Nasdaq listing, the world’s second-largest stock exchange after the NYSE, would raise Pensana’s visibility among American investors and broaden its access to capital markets. Construction of the mine has already begun, with first production scheduled for early 2027. To date, the company has secured commitments from Angola’s sovereign wealth fund (FSDEA), Africa Finance Corporation (AFC), and South Africa’s Absa Bank to mobilize $268 million for development.

The proposal will be discussed at Pensana’s annual general meeting on December 3. Meanwhile, the project has also attracted attention from Japan, where Toyota Tsusho and Hanwa have signed memorandums of understanding with Pensana to secure future supply.