Namibia Critical Minerals Inc
Namibia Critical Minerals Inc has expanded its partnership with Japan Organisation for Metals and Energy Security to advance the Lofdal heavy rare earths project.
Under the amended agreement, JOGMEC will commit an additional N$37 million to fund a definitive feasibility study, the final stage used to determine a project’s investment viability.
Company president Darrin Campbell said the increased funding strengthens efforts to position the Lofdal project for financing and development, aligning with Japan’s demand for secure long-term supplies of heavy rare earth elements.
The project, which holds a 25-year mining licence, is focused on producing rare earth metals used in high-performance magnets critical for renewable energy technologies.
In a further boost, Toyota Tsusho Corporation has joined the project through JOGMEC, reinforcing strategic ties between Namibia and Japan in critical minerals development.
