- Namibia Critical Metals (TSXV:MI) has received a renewal of its environmental clearance certificate for the Lofdal Heavy Rare Earth Project in Namibia
- The company will be able to conduct exploration, processing and mining activities at the project until September 2027
- A prefeasbility is now underway for the expanded Lofdal 2B-4 project with a targeted completion date by Q1 2025
- Shares of Namibia Critical Metals are unchanged at C$0.035
Namibia Critical Metals (TSXV:NMI) has received a renewal of its environmental clearance certificate for the Lofdal Heavy Rare Earth Project in Namibia.
The company stated in a news release that this means it will now be able to conduct exploration, processing and mining activities at the project until September 2027.
“We are very pleased to receive the environmental clearance certificate as the prefeasibility study for the new large mine project ‘Lofdal 2B-4’ is near completion, which will be followed by increasing ground activities at Lofdal,” Darrin Campbell, president of Namibia Critical Metals, said in a statement. “I am also very excited about the opportunities we see with the significantly advanced sorting technologies, which have recently improved due to the introduction of AI applications. These technologies may help to bring lower grade material back into the processing stream.”
Additionally, a pre-feasibility study is now underway for the expanded Lofdal 2B-4 project, which is targeted for completion by Q1 2025. The prefeasability study will focus on sorting test work with recently advanced XRF and XRT sorting to upgrade lower-grade run-of-mine material.
With headquarters out of Halifax, Nova Scotia, Namibia Critical Metals is developing the Tier-1 Heavy Rare Earth Project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium, in Namibia.
The Lofdal project is fully permitted with a 25-year mining license and is under a joint venture agreement with Japan Organization for Metals and Energy Security.
Namibia Critical Metals owns a 95 per cent interest in the Lofdal project with the remaining 5 per cent held for the benefit of historically disadvantaged Namibians.
Shares of Namibia Critical Metals Inc. (TSXV:MI) are unchanged at C$0.035.
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(Top image: Namibia Critical Metals)