Rare earth processing gets N$130m boost at Lofdal

Namibia Critical Metals has secured C$11 million (about N$130 million) to advance processing at its Lofdal rare earth project as part of a wider push to process critical minerals domestically.

The rare earth project is pushing forward plans to produce higher-value rare earth carbonates as Namibia seeks to capture more value from its critical minerals.

The country is actively shifting from exporting raw critical minerals to focus on domestic processing to capture higher industrial value.

The funding was approved by a joint management committee overseeing the project through a partnership between Namibia Critical Metals, the Japan Organisation for Metals and Energy Security, and Toyota Tsusho.