Pensana (LSE:PRE) said Sheikh Dr Badr bin Dalhim Al-Faheid Al-Hajri has joined the board of Cascade Natural Resources and is fully supportive of Cascade's $165 million strategic investment into the company, first announced on 4 March.
The rare earth developer, which is advancing the Longonjo project in Angola, said the appointment signals deepening Qatari backing for both the investment and the project's development.
Sheikh Dr Badr brings extensive experience across Gulf and Arab institutional networks, having held senior roles within bodies operating under the Arab League and the Arab Economic Unity Council, which spans 22 member states across the Middle East, North Africa and Africa.
"This important investment reflects a forward-looking commitment to strengthening critical mineral supply chains and supporting the development of sustainable mining and processing capabilities," Sheikh Dr Badr said on joining the Cascade board.
Paul Atherley, Pensana's chairman, said the appointment would accelerate Longonjo's development as one of the world's largest rare earth mines and support the company's downstream processing ambitions.
The $165 million Cascade investment remains the key near-term funding milestone for Pensana as it works to bring Longonjo into production.
