Qatar-Backed Cascade Advances $165 Million Pensana Investment as Sheikh Dr Badr Al-Hajri Joins Board
Qatar-backed Cascade Natural Resources has appointed Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri to its board of directors, a move that underscores the company’s growing international profile and Qatar’s support for its expansion in the critical minerals sector.
The appointment comes as Cascade advances its strategic $165 million investment in rare earths developer Pensana and its flagship Longonjo rare earth project in Angola.
The investment forms part of Cascade’s broader strategy to strengthen global rare earth supply chains and establish a significant presence in the critical minerals industry.
Sheikh Dr Badr Al-Hajri welcomed the opportunity to join the company’s leadership team, describing the investment as a forward-looking initiative aimed at supporting the development of sustainable mining and processing capabilities.
“I am honoured to join the board of directors of Cascade and contribute to the company’s strategic vision as it advances its investment in Pensana and the Longonjo project,” he said.
“This investment reflects a long-term commitment to strengthening critical mineral supply chains and supporting the development of sustainable mining and processing capabilities.
The sector will play a vital role in powering future technologies, advanced manufacturing and long-term industrial growth.”
Pensana Chair Paul Atherley said the support from Qatar-backed Cascade and the appointment of Sheikh Dr Badr Al-Hajri would help accelerate the development of Longonjo, which is expected to become one of the world’s largest rare earth mining operations.
“We very much welcome the support of Sheikh Dr Badr Al-Hajri and the investment by Cascade, which will accelerate the development of Longonjo and support our downstream growth ambitions,” Atherley said.
Cascade Chair Lloyd Pengilly said the appointment reflects Qatar’s strong commitment to the company’s vision of becoming a leading player in the global rare earth industry.
“We warmly welcome Sheikh Dr Badr Al-Hajri to the Cascade board. His appointment demonstrates the strong support Qatar is bringing to Cascade as we pursue our ambition to build a world leader in the rare earth sector,” Pengilly said.
“Our investment in Pensana and the Longonjo project represents a significant milestone in that journey, and we are excited about the opportunities that lie ahead.”
Sheikh Dr Badr Al-Hajri is widely recognised across the Gulf region and the broader Arab world for his experience in government, diplomacy and international economic affairs.
Throughout his career, he has held senior positions within institutions operating under the umbrella of the League of Arab States and the Arab Economic Unity Council, representing 22 Arab member states across the Middle East, North Africa, the Gulf and Africa.
He brings extensive relationships with sovereign wealth funds, institutional investors and business leaders throughout the Gulf region, along with a longstanding commitment to promoting investment partnerships between Arab nations and international markets.
His appointment is expected to enhance Cascade’s engagement with Qatari and Gulf investors as the company advances its critical minerals strategy and expands its footprint in the rapidly growing rare earths sector.
