{"id":46426,"date":"2024-08-11T14:05:46","date_gmt":"2024-08-11T13:05:46","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?post_type=partner&p=46426"},"modified":"2024-08-12T08:53:09","modified_gmt":"2024-08-12T07:53:09","slug":"namibia-critical-metals-tier-1-heavy-rare-earth-deposit-development","status":"publish","type":"partner","link":"https:\/\/www.innovationnewsnetwork.com\/partner\/namibia-critical-metals-tier-1-heavy-rare-earth-deposit-development\/","title":{"rendered":"Namibia Critical Metals: A Tier-1 heavy rare earth deposit in development"},"content":{"rendered":"

Namibia Critical Metals<\/a>, together with its strategic partner JOGMEC, is rapidly accelerating the development of its flagship Lofdal heavy rare earth deposit in Namibia.<\/h2>\n

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

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.<\/p>\n

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

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.<\/p>\n

\"\"<\/p>\n

The Lofdal rare earth deposit in Namibia<\/h3>\n

The Lofdal Project<\/a>, fully permitted with a 25-year Mining License, stands as a testament to this stability.<\/p>\n

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.<\/p>\n

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.<\/p>\n

Namibia Critical Metals Inc.\u00a0released an updated 43-101 Mineral Resource Estimate in May 2021 and again on 9 April 2024.<\/p>\n

\"\"<\/p>\n

Working to deliver a Pre-feasibility Study<\/h3>\n

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.<\/p>\n

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.<\/p>\n","protected":false},"excerpt":{"rendered":"

Namibia Critical Metals, together with JOGMEC, is accelerating the development of its flagship Lofdal heavy rare earth deposit in Namibia.<\/p>\n","protected":false},"author":18,"featured_media":46434,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"partner_category":[2],"partner_tag":[24316],"acf":[],"yoast_head":"\nNamibia Critical Metals: A Tier-1 heavy rare earth deposit in development<\/title>\n<meta name=\"description\" content=\"Namibia Critical Metals, together with JOGMEC, is accelerating the development of its flagship Lofdal heavy rare earth deposit in Namibia.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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