Pensana Metals Ltd (ASX:PM8) has appointed Robert Kaplan as chief financial officer (CFO) and company secretary of Pensana Rare Earths Plc ahead of its planned listing on the main Board of the London Stock Exchange next month.

The UK plc company is proposing to acquire the ASX-listed entity which will be voted on by shareholders on 15 January 2020.

Kaplan previously worked in financial and treasury roles for Petra Diamonds (LON:PDL) where he was involved in mine financing valued at over US$1 billion from multiple sources.

Pensana aims to become one of the world’s biggest suppliers of NdPr exporting concentrates through the development of its Longonjo NdPr Project in Angola.

Finance experience to accelerate Longonjo development

Pensana’s chairman Paul Atherley said: “We welcome Rob to the team. He brings extensive African mine finance and operational expertise to the company at a time when we are making the transition from feasibility studies into financing, construction and production. 

“Rob is based in Africa and has worked previously with our CEO Tim George in Angola.

“His broad corporate finance skills will help accelerate the development of Longonjo as the world’s first major rare earth mine in nearly a decade.”

“Robert is a Chartered Accountant with over 20 years operating experience in the African mining sector.

“His addition to the Pensana team brings a broad skill set in both the UK and sub‐Saharan corporate finance together with experience in mining operations in Angola, South Africa and Tanzania.”

Familiar with CEO and Angola

Kaplan added: “Having previously worked with Tim George in Angola I am absolutely delighted to have the opportunity to join the team to work on this exciting project.

“Angola has made transformational changes since we both last worked there and this bodes well as we are looking to rapidly advance the Longonjo project from pre‐feasibility status into production and become the first major rare earth mine to be developed at a time when demand for magnet metals is taking off.“