Lofdal heavy rare earths project, Namibia
Name of the Project
Lofdal heavy rare earths project.
Location
North-west Namibia.
Project Owner/s
Namibia Critical Metals (NCM).
Project Description
The Lofdal project represents a unique opportunity for the development of a significant heavy rare earths supply outside of China. It has the potential to produce an average of 1 500 t/y of separated rare-earth oxides.
Net Present Value/Internal Rate of Return
The project has a calculated net present value, at a 10% discount rate, of $148-million and an internal rate of return of 42%.
Capital Expenditure
Not stated.
Planned Start/End Date
Not stated.
Latest Developments
Additional drill results from NCMs’ Area 2B satellite deposit on the Lofdal project have confirmed multiple dysprosium zones to 190 vertical meters.
All Term 1 drilling has been completed and the company is expecting results from the remaining 42 holes in Area 2B and Area 4.
Following receipt of a ‘notice of preparedness’ to grant the application for a mining licence for Lofdal from the Ministry of Mines and Energy – a very significant milestone – the company has lodged its acceptance of the mining licence and awaits finalisation of the process from the ministry.
Key Contracts and Suppliers
MDM Engineering Group (principal consultant), Mine Technics (pit optimisation, mine planning and operations), Swinden Geoscience (geological inputs) and Digby Wells Environmental (environmental management and planning).
Contact Details for Project Information
Namibia Rare Earths, tel +1 902 835 8760, fax +1 902 835 8761 or email info@NamibiaREE.com.
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