Namibia Critical Metals (TSXV:MI) has recently secured the renewal of its environmental clearance certificate for the Lofdal Heavy Rare Earth Project situated in Namibia. This renewal allows the company to continue its exploration, processing, and mining activities at the project site until September 2027.
In addition, a pre-feasibility study is currently in progress for the expanded Lofdal 2B-4 project, with an expected completion date by Q1 2025. The study will primarily focus on sorting test work utilizing advanced XRF and XRT sorting technologies to enhance the quality of lower-grade run-of-mine material.
Namibia Critical Metals, based in Halifax, Nova Scotia, is actively developing the Tier-1 Heavy Rare Earth Project, Lofdal, which houses valuable deposits of dysprosium and terbium in Namibia. The Lofdal project holds a 25-year mining license and is being operated under a joint venture agreement with Japan Organization for Metals and Energy Security.
Moreover, Namibia Critical Metals owns a 95% stake in the Lofdal project, with the residual 5% held for the benefit of historically disadvantaged Namibians. At present, shares of Namibia Critical Metals Inc. (TSXV:MI) are unaltered at C$0.035.
Please note that the information provided in this article is for informational purposes only and should not be construed as investment advice. For a comprehensive disclaimer, please refer to the link provided.
