Namibia Critical Metals secures C$11 million for Lofdal rare earth project processing
Namibia Critical Metals has secured C$11 million approximately N$130 million to advance processing at its Lofdal rare earth project. This funding, approved by a joint management committee involving Namibia Critical Metals, the Japan Organisation for Metals and Energy Security, and Toyota Tsusho, will support the production of higher-value rare earth carbonates. The initiative aligns with Namibia's broader strategy to shift from exporting raw critical minerals to domestic processing, aiming to capture greater industrial value. The approval also facilitates the full execution of an expanded feasibility study, with metallurgical and geometallurgical contracts awarded to SGS Canada Inc. NCM president and chief executive Darrin Campbell stated that a key objective is to demonstrate the production of higher-value rare earth products within Namibia, rather than exporting mineral concentrates. This development at Lofdal reflects a wider trend in Namibia's critical minerals industry, with other companies like Ombo Capital also securing funding for local rare earth processing plants. The production of light and heavy rare earth carbonates is expected to support Namibia's ambitions for increased domestic mineral beneficiation, downstream industry development, and long-term economic value. The NCM program includes a pilot-scale flotation campaign, laboratory and pilot-scale rare earth separation testing, and an extensive geometallurgical program. Namibia has also banned the export of unp
