Flexibility to Respond to Market Demands
Namibia Rare Earths Inc. has changed its name to Namibia Critical Metals Inc. to better reflect the diversification of the company’s resource base which now includes heavy rare earths, cobalt, copper, graphite, lithium, tantalum, niobium, vanadium and gold opportunities. Following the recent transaction with Gecko Namibia (Pty), attention is currently focused on exploration of its extensive land package in an emerging cobalt district in northern Namibia.
Namibia Critical Metals Inc. traces its roots back to 2011 with the discovery of a unique (xenotime-enriched) rare earth deposit in northern Namibia. The main commodities of interest at Lofdal are the high value heavy rare earths dysprosium and terbium which are used in permanent magnets. In 2017, the Ministry of Environment and Tourism issued Environmental Clearance Certificates for the proposed mining operation at Lofdal and an application for a Mining Licence has been filed.
The Company’s expanded project pipeline now spans the spectrum from near-term discovery potential to preliminary economic assessment. All projects are located in Namibia, a stable mining jurisdiction in southern Africa. This diversification provides the Company with considerable flexibility in targeting those commodities which can maximize shareholder value.