The Eureka Project -a uniquely derisked rare earth element project in Namibia
Attractive deposit characteristics – well constrained deposit, low depth, enriched REE grades with a high proportion of Nd & Pr.
Easy physical processability – mono-mineralic conventional REE ore mineral of consistently low thorium content, won by simple gravitational and magnetic methods
Project accessibility - flat topography, sparsely populated, close proximity to major highway and Walvis Bay container port, on-site water and electricity access, in a favourable mining jurisdiction.
Widely in demand
Neodymium permanent magnets are used in high-performance, low-weight and small size electric motors and generators.
Enabling Electric Vehicles
93% of all Electric Vehicle (EV) motors are permanent magnet traction motors.
Efficient & Reliable
The forecasted increase in wind power supply will almost fully substitute the decline in the coal-based power supply
Rare Earth Metals Availability
More than 80% of all refined rare earths
products are currently produced in China. Countries around the world are actively seeking rare earth resources outside of China as trade disputes and political tensions rise.
Other use cases include computers, robotics, brake energy recapture, and medical technology.
Accelerating market demand
Transition to clean technology is accelerating, creating a demand-supply gap of Neodymium (Nd)
Highly dependant markets
Nd&Pr (rare earth elements neodymium (Nd) and praseodymium (Pr)) are critical ingredients for electric motor vehicles and wind turbine generators
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