LONDON: Pensana Rare Earths Plc announced the appointment of Rt Hon Baroness Lindsay Northover PC as a Non-Executive Director of the Company with immediate effect.
Baroness Northover (66), the Prime Minister’s former Trade Envoy to Angola (2016-2020) and Zambia (2017-2020) and Africa Minister for the Department for International Development (DFID) (November 2014 – May 2015), joins the Pensana Board as one of four independent Non-Executive Directors.
Baroness Northover has been at the core of the recent successful development of the UK/Angola bilateral relationship which has seen significant progress since the General Co-operation Agreement between the UK and Angola was signed in 1986.
The bilateral agreement has benefitted from a number of private industry initiatives which include the opening and widening of the UK’s credit line for exports to Angola from US$70m in 2009 to circa US$1bn in 2020 through the UK Export Finance department.
Paul Atherley, Chairman of Pensana, commented: “The Board of Pensana warmly welcomes Baroness Northover as a Non-Executive Director.
“It is no longer acceptable for miners and processers to supply materials to the green economy unsustainably. The proposed changes in EU legislation reflect this growing sentiment.
“We are delighted at the progress we have made in advancing the Longonjo project as one of the world’s most sustainable mines and with the substantial benefits the investment will bring to the local community and to the people of Angola.
“Baroness Northover’s considerable experience in Africa over many years, and in particular her involvement in Angola during its economic and political transformation over the past four years will be a major asset to the Company.
“She is particularly delighted with our plans to establish the world’s first sustainable magnet metal supply chain in the UK to supply the burgeoning EV and Offshore Wind industries and we look forward to her assistance in advancing the project in partnership with the various stakeholder groups.”
Baroness Northover, Non-Executive Director of Pensana, stated: “I am absolutely delighted to be joining the Board of Pensana at this critical time as the world seeks to combat climate change.
“We must be hugely ambitious if we are to meet the world’s climate goals. Scaling up the production of the metals necessary to power the electric vehicle revolution and ensure that wind power represents a scalable source of energy production is essential if the world is to “build back better” as we come out of the current pandemic.
“I have admired Pensana’s work both in Angola and globally, for some time. Their mission critically aligns with the global aim of acting in an environmentally sustainable way. This is especially valuable to Angola as it seeks to diversify away from oil into sustainable industries. This is an exciting time for these new approaches and technologies.”
Pensana is a rapidly growing sustainable resources company with shares trading on the London Stock Exchange‘s Main Market for listed securities (PRE:LSE) and on the Australian Stock Exchange (PM8:ASX).
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