November 04, 2021

REIA welcomes 2 new members: Namibia Critical Metals and Peak Resources

REIA, the Global Rare Earth Industry Association, is very pleased to welcome 2 new members to its network: Namibia Critical Metals and Peak Resources, two companies with well advanced mining projects in Africa, respectively in Namibia and Tanzania.

Dr Badrinath Veluri, President of REIA, commented: “We are very glad that NCM and Peak Resources have chosen to join REIA. A warm welcome to both companies and to their representatives Darrin Campbell, President of NMC and Andrea Cornwell, Head of Marketing of Peak Resources.”

About Namibia Critical Metals: Namibia Critical Metals is focused on the development of sustainable and ethical sources of metals for the battery, electric vehicle, and associated industries. The Company’s Lofdal Heavy Rare Earth Dysprosium-Terbium Project in Namibia is the Company’s most advanced project being fully permitted with a Mining Licence (ML 200) issued in 2021. The project is being developed in joint venture with Japan Oil, Gas and Metals National Corporation (“JOGMEC”) to provide a sustainable supply of heavy rare earths to Japan, most notably dysprosium and terbium. Lofdal is one of only two significant HREE projects in the world under development with simple xenotime mineralogy. Darrin Campbell, President of Namibia Critical Metals stated “We are very pleased to be joining REIA and become part of this growing and important industry network. As we continue to advance our Lofdal project with our partner JOGMEC, it is important to engage with key REE stakeholders and stay in tune with best practices within the industry.”

About Peak Resources
Peak Resources is positioned to become one of the world’s lowest cost, fully integrated rare earth producer outside of China. It has completed a Bankable Feasibility Study and has key mining, environmental and planning approvals in place to pursue its ore to oxide strategy. Ngualla in Tanzania will be home to the high-grade rare earth mine and concentrator, and Teeside in the UK will be the location of the Refinery, allowing for the production of a high-grade NdPr Oxide used to produce NdFeB magnets critical to the electric vehicle revolution. Construction is currently targeted to commence by the end of December 2022.

Andrea Cornwell, Peak Resources Head of Marketing, said “Peak Resources is pleased to be joining REIA and to support its initiatives to promote the global rare earth industry and innovate in this rapidly changing environment. REIA through its membership base and network is well placed to contribute to a better understanding of the whole rare earth value chain, and will bring unique opportunities for industry stakeholders to network, assess market developments, technological advancement and ESG best practice within the whole RE value chain, from mine to consumer. ”