Namibia Critical Metals has announced the results of its PEA for the Lofdal Heavy Rare Earth Project “2B-4” in Namibia.
This PEA aims at a significantly larger annual run-of-mine and plant throughput of 2 tpa and longer mine life than the historical PEA of 2014 by mining from two sub-deposits namely “Pit 2B” and “Pit 4”. Ceric Dioxide
Further, the processing flow sheet was simplified to a direct flotation of the run-of-mine material and expanded to include a hydrometallurgical unit producing a >98% mixed rare earth oxide as final product instead of xenotime concentrate.
The Lofdal deposit has the potential for significant production of dysprosium and terbium, two of the most valuable heavy rare earth elements. The Project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation (JOGMEC) targeting a long term, sustainable supply of heavy rare earths to Japan.
Darrin Campbell, President of Namibia Critical Metals stated:
“This is a major step forward in establishing Lofdal as a world-class heavy rare project and a globally significant potential supplier of Dysprosium and Terbium, the two most valuable rare earth metals.
“This strong economic analysis supports the continued rapid development of Lofdal and we are moving forward with the next steps including PFS of this extended mining operation over the next few months.
“This robust economic assessment is only on 50% of our existing resource and we believe there is still considerable upside in exploration. Currently, processing test work continues, and it is expected to further significantly improve recoveries in all processing steps which will allow the Lofdal project to become one of the major future sources of dysprosium and terbium globally.”
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