- Environmental Clearance Certificates issued by the Namibian Ministry of Environment and Tourism for proposed mining and processing operations at Lofdal, and for proposed power and water line corridor
- Certificates have a three-year period of validity and provide environmental clearance for the proposed Mining Licence application lodged with the Ministry of Mines and Energy
- Proposed Mining Licence application remains pending
- Exchange conditional approval received for acquisition of critical metals property portfolio from Gecko Namibia (Pty) Ltd.
HALIFAX, Dec. 18, 2017 /CNW/ - Namibia Rare Earths Inc. ("Namibia Rare Earths" or the "Company") (TSXV: NRE) today announced it has received Environmental Clearance Certificates ("ECCs" or "the certificates") pertaining to its application for a Mining Licence on the Lofdal Heavy Rare Earth Project ("Lofdal") in northern Namibia. The certificates, which are issued by the Office of the Environmental Commissioner in the Ministry of Environment and Tourism ("MET") are required in support of the Mining Licence application for Lofdal which is being processed by the Ministry of Mines and Energy ("MME"). The certificates have a three-year period of validity from date of issue. The Mining Licence application (ML 200) was submitted to the Ministry of Mines and Energy in late 2016 and remains pending. The issuance of an ECC is a condition precedent for the granting of any Mining Licence in Namibia and represents an important step in the overall process undertaken by the Ministry of Mines and Energy in making a determination for the granting of a Mining Licence.
Namibia Rare Earths engaged SLR Environmental Consulting (Namibia) Pty. Ltd. in early 2015 to carry out an Environmental Impact Assessment ("EIA") for Lofdal to ensure compliance with all relevant regulations and to develop appropriate Environmental Management Plans for the proposed mine development at Lofdal. The EIA process was conducted over an 18-month period and included extensive baseline environmental studies and formal community consultations. Final reports were submitted to MET in June 2016 in support of the application for an Environmental Clearance Certificate. The application for a Mining Licence was subsequently filed with MME in November 2016.
The ECCs pertain to the development of an 840,000 tons per annum open pit mining operation at Lofdal together with processing facilities, waste rock dumps and tailings storage facility to produce heavy rare earth concentrates at site. Environmental clearance has also been provided for the construction of a +/-40 km long 66kV overhead powerline from the national power grid with a parallel water pipeline to deliver power and water to site. Provision has been made to consider installation of a supplemental photovoltaic solar powerplant at site.
The Company continues to assess flowsheet optimizations and downstream processing opportunities for the project as it awaits a decision on the issuance of a Mining Licence.
Consents Pending Regarding Acquisition of Critical Metals Properties
Further to Company press releases of November 10, 2017 and December 8, 2017, Namibia Rare Earths is in the process of completing the acquisition of a portfolio of critical metal properties ("Property Acquisition") from Gecko Namibia (Pty) Ltd. and completing a private placement which was recently increased to Cdn$550,000 ("Private Placement"). The Company is focused on the regulatory process to obtain the final approval of the Exchange for the Property Acquisition and the Private Placement. Exchange conditional approval of the Property Acquisition was obtained on November 17, 2017 and the Company is working to fulfill all conditions for final approval. Shares of Namibia Rare Earths are currently halted from trading and it is expected that they will remain halted until receipt and review of acceptable documentation regarding the Property Acquisition, pursuant to TSX Venture Exchange listings Policy 5.3.
Donald M. Burton, P.Geo. and President of Namibia Rare Earths Inc., is the Company's Qualified Person and has reviewed and approved this press release.
About Namibia Rare Earths Inc.
Namibia Rare Earths Inc. is focused on the accelerated development of the Lofdal Rare Earths Project and on building a critical metals portfolio in Namibia. The common shares of Namibia Rare Earths Inc. trade on the TSX Venture Exchange under the symbol "NRE".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The foregoing information may contain forward-looking information relating to the future performance of Namibia Rare Earths Inc. Forward-looking information, specifically, that concerning future performance, is subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions.
Web site: www.NamibiaRareEarths.com
SOURCE Namibia Rare Earths Inc.
For further information: Namibia Rare Earths Inc. Don Burton, President, Tel: +01 (902) 835-8760, Fax: +01 (902) 835-8761, Email: [email protected]