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Namibia Critical Metals Expedites Development of Lofdal Heavy Rare Earths Project as JOGMEC Intensifies Funding Support

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Namibia Critical Metals Inc. reported that its joint venture partner, JOGMEC, has approved an additional $1,250,000 in funding, bringing the total budget for the period until March 31, 2024, to $13,050,000.

Darrin Campbell, President of Namibia Critical Metals expressed his satisfaction, stating:

“We are extremely pleased with the continued support of our partner, JOGMEC. This accelerated funding will allow us to complete pilot plant hydrometallurgical test work as well as other important technical studies to finalize our pre-feasibility study for the large-scale Lofdal 2B-4 project.

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NCMI intends to leverage advanced technologies and innovative methodologies to optimize processes and enhance the efficiency of mineral extraction and refining techniques developed in our 2022 PEA. The parallel technical studies will be conducted to support the ongoing pre-feasibility study, with the goal of fostering a comprehensive understanding of the mining potential of Lofdal.”

 

Source: yahoo finance

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