“Africa’s Rare Earth Push: Namibia’s Lofdal Project Receives $7. 8M for High-Value Processing “Johannesburg, South Africa – Africa’s rare earth aspirations are advancing as Namibia’s Lofdal Project secures $7. 8 million to delve into high-value processing of rare earth elements (REEs).
This strategic investment, approved by the project’s Joint Management Committee, aims to elevate the continent’s rare earth industry from mere raw material exporter to a key player in refined products.
The funding is designated for a Definitive Feasibility Study, exploring the potential of the Lofdal mine to produce light and heavy rare earth carbonate products via an integrated hydrometallurgical process. These intermediate products, which include neodymium, praseodymium, dysprosium, and terbium, are critical in applications such as permanent magnets for electric vehicles, wind turbines, and advanced electronics. Namibia’s initiative is not isolated; it mirrors a broader trend across Africa, where countries are increasingly focusing on domestic beneficiation of critical minerals.
For example, Malawi’s Kangankunde project and Angola’s Longonjo project are also aiming to produce rare earth carbonates, while South Africa and Malawi have plans for producing separated rare earth oxides.
The Lofdal project is a joint venture with the Japan Organization for Metals and Energy Security (JOGMEC), reflecting the international community’s interest in Africa’s REE sector.
As global demand for rare earths grows, driven by electric vehicles and renewable energy systems, Africa’s potential to supply around 9% of the global market by 2029 is significant.
However, the continent faces challenges, primarily in developing processing industries capable of creating the high — value materials that are the core of the rare earth sector’s profits. While the Lofdal project marks progress, there remains a long journey to achieve full-scale, sustainable production.
As the feasibility study unfolds, the success of the Lofdal project is anticipated to be a benchmark for other African nations.
A successful outcome could herald a new era for Africa’s REE industry, one that maximizes value and reduces reliance on raw material exports. This shift is crucial for Africa’s economic development and its role in the global energy transition.
*Additional reporting by ImNews | Sources consulted: 5*
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This original article was produced by the ImNews editorial team
Source: Africa.businessinsider
Source: Ayodeji Adegboyega
