Namibia Critical Metals Secures Additional Funding from JOGMEC for Lofdal Project

Namibia Critical Metals Inc. has announced an additional budget increase of $1.154 million CDN from its joint venture partner, JOGMEC. This new funding brings JOGMEC's total commitment to $16.245 million, expanding upon a previous increase announced in January 2025. The funds aim to accelerate various work programs at the Lofdal Heavy Rare Earth project.

These initiatives include bulk sampling of 1,000 tonnes of fresh ore, pilot plant sorting tests, geotechnical drilling, and topographic surveying. Darrin Campbell, President of Namibia Critical Metals, expressed satisfaction with the continued support from JOGMEC, citing the strategic importance of the Lofdal project to Japanese industry.

The Lofdal project is crucial due to its significant deposit of dysprosium and terbium, metals vital for technologies such as electric vehicles and wind turbines. The ongoing collaboration with JOGMEC underscores the project's potential impact on securing rare earth metal supplies for Japan.