News News
Contact us
  • Customer service number:64321087
  • Commercial service telephone:13918059423
  • Technical service telephone:13918059423
  • Contact person: Mr. Cui 
  • Service email:shxtb@163.com
  • Address: room 107, building 8, no. 100, guilin road, xuhui district, Shanghai

Namibia Critical Metals: A Tier-1 heavy rare earth deposit in development

The date of: 2024-04-27
viewed: 0

source:INNOVATION NEWS NETWORK

Namibia Critical Metals, together with its strategic partner JOGMEC, is rapidly accelerating the development of its flagship Lofdal heavy rare earth deposit in Namibia.

Namibia Critical Metals Inc. is developing the Tier-1 Heavy Rare Earth Project, Lofdal, which is a major deposit of the heavy rare earth metals dysprosium and terbium.

Innovations linked to energy and technology transformations drive the demand for these critical metals, which are used in permanent magnets for electric vehicles, wind turbines, and other electronics.

Despite the increasing demand for these metals, the geopolitical risks associated with their sourcing have become a recurring concern for manufacturers and end users.

However, Namibia offers a stable and proven mining jurisdiction. Mining accounts for around 12.5% of GDP and provides over 50% of foreign exchange earnings.

The Lofdal rare earth deposit in Namibia

The Lofdal Project, fully permitted with a 25-year Mining License, stands as a testament to this stability.

Additionally, it benefits from a Joint Venture Agreement with the Japan Organization for Metals and Energy Security (JOGMEC), a Japanese state agency with a significant annual budget and a mandate to secure natural resource supply for Japanese industry.

Since the JOGMEC partnership began in early 2020, the company has significantly advanced the project, with two major drilling campaigns resulting in massive increases to the resource.

Namibia Critical Metals Inc. released an updated 43-101 Mineral Resource Estimate in May 2021 and again on 9 April 2024.

Working to deliver a Pre-feasibility Study

The company also invested significant time and resources in validating its processing flow sheet, resulting in a very positive Preliminary Economic Assessment (PEA) in October 2022.

Namibia Critical Metals Inc. is currently working to deliver a Pre-feasibility Study (PFS) for the Lofdal rare earth deposit in Q3 2024, incorporating the new larger resource and improved processing testing work.



Hot News / Related to recommend
  • 2024 - 06 - 13
    Click on the number of times: 0
    source:IMC University of Applied Sciences KremsA research collaboration between BOKU Tulln and IMC University of Applied Sciences Krems is using the further development of bioleaching and bioaccumulat...
  • 2024 - 06 - 13
    Click on the number of times: 0
    source: Oak Ridge National LaboratoryWhen element 61, also known as promethium, was first isolated by scientists at the Department of Energy's Oak Ridge National Laboratory in 1945, it completed t...
  • 2024 - 06 - 11
    Click on the number of times: 0
    source:phys.orgA team of material scientists led by Jiang Li from Shanghai Institute of Ceramics, Chinese Academy of Sciences, in Shanghai, China recently reported (Tb1-xYx)3Al5O12 magneto-optical cer...
  • 2024 - 06 - 06
    Click on the number of times: 0
    source:Trinity College DublinA collaborative team of researchers has made a cracking discovery with the potential to make a significant impact in the sustainable recovery of rare earth elements (REEs)...
  • Copyright ©Copyright 2018 2020 Shanghai rare earth association All Rights Reserved Shanghai ICP NO.2020034223
    the host:Shanghai Association of Rare Earth the guide:Shanghai Development and Application Office of Rare Earth the organizer:Shanghai rare earth industry promotion center
    犀牛云提供云计算服务