Angola: Pensana, Toyota Tsusho Sign Rare Earth Offtake Deal

Rare earths developer Pensana has signed an offtake agreement with Toyota subsidiary Toyota Tsusho for up to 20,000 tons per year of mixed rare earth carbonate from the Longonjo mine in Angola. The proposed offtake will span a five-year period with pricing pending an agreement.

Under the MoU, Pensana and Toyota Tsusho intend to develop an independent supply chain for rare earth materials. Toyota Tsusho plans to utilize its Indian processing facility – under its wholly owned subsidiary Toyotsu Rare Earth India – to process the mixed rare earth carbonate.

“This partnership with Toyota Tsusho marks the next strategic step in establishing Longonjo as the most important rare earth development in over a decade,” stated Paul Atherley, Chairman, Pensana.

Construction of the Longonjo mine began in May this year. Initial production is set at 20,000 tons of mixed rare earth carbonate per year, with a proposed second https://registroestudiantes.fevp.gob.ve/ phase set to expand production to 40,000 tons per year.

According to Tsutomu Aoki, General Manager of Metal Resources Department, Toyota Tsusho, “This MoU represents a significant step in the development of a global rare earth supply chain – not only to support Toyota Tsusho’s direct customer base but also to strengthen and diversify the broader rare earth value chain.”