Lofdal rare earth project gains momentum

NCMI, JOGMEC joint project in full swing
The Lofdal deposit is a globally significant source of the heavy rare earth metals dysprosium and terbium.
STAFF REPORTER
  • 3 Months Ago
Namibia Critical Metals Inc (NCMI) is a Canadian company listed on the TSX Venture Exchange and a partner in the Lofdal heavy rare earths project, which is held in a joint venture agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC).

Recent drilling has evaluated two areas: Area 4 and Area 2B of the project near Khorixas, under a 25-year mining licence ML 200.

A preliminary economic assessment of Lofdal 2B-4 forecasts an annual production of about 2 000 tonnes of mixed rare earth oxides over 16 years, including dysprosium oxide and terbium oxide, the most valuable rare earth elements.

Accelerated funding

In January, Namibia Critical Metals reported that its joint venture partner, JOGMEC, approved an additional US$1 250 000 (over N$22.7 million) in funding.

Darrin Campbell, president of Namibia Critical Metals, expressed his satisfaction at the time, saying: “We are extremely pleased with the continued support of our partner, JOGMEC.

"This accelerated funding will allow us to complete pilot plant hydrometallurgical test work as well as other important technical studies to finalise our pre-feasibility study for the large-scale Lofdal 2B-4 project," he said.

"NCMI intends to leverage advanced technologies and innovative methodologies to optimise processes and enhance the efficiency of mineral extraction and refining techniques. Parallel technical studies will be conducted to support the ongoing pre-feasibility study, with the goal of fostering a comprehensive understanding of the mining potential of Lofdal.”

The proposed separation plant is being developed in partnership with E-Tech Resources and Ondoto Rare Earth in a joint venture known as the Rare Earth Alliance Namibia.



Focus on Lofdal

More recently, in March, the company sold its non-core assets in Namibia to Sylla Gold Corporation for shares and a cash payment exceeding N$1.8 million.

The company is fully focused on Lofdal and delivering a pre-feasibility study in the first half of 2024.

In May, an updated technical report on the Lofdal mineral resource estimate was released to the public.

“The mineral resource for Area 4 extends up to 1 600 m along [a] strike near surface and attains a maximum depth of approximately 400 m. For Area 2B, the mineral resource extends for 850 m near surface and attains a maximum depth of approximately 230 m,” reads the report.