Cascade investment in Pensana and the Longonjo mine

Guernsey-registered, Qatari-backed Cascade Natural Resources Ltd announced on 4 March 2026 a 165 million USD investment in London-listed Pensana plc (ticker PRE), with a first tranche of 15 million USD paid in April 2026. The project targets the development of the Longonjo mine in Huambo Province, Angola, one of the largest rare earth deposits in the world, with a planned output of 20,000 tonnes per year of mixed rare earth carbonate, expandable to 40,000 tonnes, within a mine-to-magnet strategy feeding permanent magnet, robotics and AI computing supply chains. Dr Al-Hajri joined the Cascade board in June 2026.