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Namibia Critical Metals and JOGMEC boost funding for Lofdal rare earths feasibility study

Company Fundamentals
30 Mar 2026
Proactive Investors
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Bullish
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Namibia Critical Metals and joint venture partner JOGMEC have amended their agreement to increase funding by C$3 million for the Lofdal heavy rare earths project in Namibia. This additional capital will support a definitive feasibility study, engineering, mine optimization, and resource drilling at key sites, aiming to de-risk and refine development plans. The partners target completing the feasibility study by Q2 2027, with an option for JOGMEC to provide further non-dilutive funding before final investment. Lofdal is a strategic project focused on supplying heavy rare earth elements critical for advanced technologies like electric vehicles and wind turbines.

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