Lofdal Heavy Rare Earth Project

feasibility phase

The Lofdal project in Namibia is a heavy rare earth development initiative backed by JOGMEC and Toyota Tsusho. It targets the extraction and processing of heavy rare earth elements such as dysprosium and terbium, essential for electric vehicle motors and renewable energy technologies. The project includes a $20 million phased investment by JOGMEC, with a total capital expenditure of $348 million, and incorporates a 26% carry interest for local disadvantaged communities. The project aims to produce 1,487 tonnes of total rare earth oxide annually over a 13-year mine life, including 119 tonnes of dysprosium and 17.8 tonnes of terbium.