NCMI Highlights JOGMEC Investment and Lofdal Project Progress

Namibia Critical Metals Inc. (NCMI) recently commented on its partner JOGMEC’s investment in the rare earth separation project Caremag. JOGMEC and Iwatani Corporation committed up to 110 million euros to the French heavy rare earth plant Caremag SAS.

NCMI also updated on its Lofdal 2B-4 Project's Prefeasibility Study. Efforts to optimize operations aim to reduce operational expenses. Key developments include increasing flotation feed grade by 50% using sorting technology, updating the mining schedule to raise run-of-mine capacity, and beginning additional geotechnical drilling. Water and power supply solutions are also underway, with ambitions for sustainable sourcing.

President Darrin Campbell emphasized the strategic importance of the Lofdal project and JOGMEC's involvement amid global supply chain concerns for rare earth elements, particularly dysprosium and terbium.