Rare earth prices climb after US-China policy shifts, boosting interest in Pensana’s Angola project
Rare earth prices have surged following two major policy moves: the US government’s agreement with MP Materials, which set a price of $110,000 per tonne for neodymium and praseodymium (NdPr), and China’s decision to ban the stockpiling of NdPr metal.
London-listed emerging rare earths miner Pensana has highlighted the developments as it continues progress on its Longonjo rare earths project in Angola.
Pensana reports that several large institutional investors in the US and other regions have recently sought meetings and further information about companies in the rare earths sector, reflecting renewed market focus on supply security and pricing.
The company referenced a Financial Times report indicating that Beijing has instructed foreign companies not to hoard rare earths amid growing fears of export restrictions.
The warning comes as demand surges for metals critical to advanced technologies, including magnets used in electric motors.
According to sources cited by the FT, China has made it clear that companies attempting to build large inventories of rare earths or related products risk facing further supply constraints.
“China is telling companies they cannot go out and build huge inventories in rare earths, or they will face shortages,” one source was quoted as saying.
Against this backdrop of tightening supply and rising prices, Pensana is advancing construction of the Longonjo mine, which is positioned to become a key non-Chinese supplier of NdPr to global markets
