Namibia Critical Metals is progressing its joint venture agreement with JOGMEC and Toyota Tsusho to finalize ownership and issue a 50% stake in the Lofdal Heavy Rare Earth Project. The project, located in Namibia, is a significant source of critical rare earth elements used in electric vehicles and renewable energy. The partners have met funding milestones, and regulatory approvals are expected within 30 days. This collaboration aims to secure stable supply chains for essential materials in advanced technologies.
Namibia Critical Metals update offers context for Basic Materials sector trends. For readers following Basic Materials, here is Pluang's market snapshot as of Oct 13, 2026 19:12 WIB: 38 of 62 priced US stocks rose, 20 fell. Notable movers include SLI at USD 1.51 with a 1.34% increase and 81% sell order activity, IFF at USD 86.03 up 1.26%, and IAG at USD 18.80 up 1.24%.
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Nvidia CEO Jensen Huang has reaffirmed his forecast that global spending on AI infrastructure will grow significantly, reaching between $3 trillion and $4 trillion by 2030. This projection highlights the massive potential and ongoing investment in AI...
