Namibia Rare Earths Files Mining License Application for Lofdal Rare Earths Project

Namibia Rare Earths (TSX:NRE) has filed an application with the Ministry of Mines and Energy for a mining license for the Lofdal rare earth project in Namibia.
As quoted in the press release:

Following the release of the Preliminary Economic Assessment (“PEA”) on November 14, 2014, the Company has focused its operations in Namibia on baseline environmental monitoring at Lofdal to support an Environmental Impact Assessment (“EIA”) for the proposed project, together with focused metallurgical optimizations. The EIA process was conducted over an 18 month period under the supervision of SLR Environmental Consultants (Namibia) and final reports have been filed with the Ministry of Environment and Tourism. In addition to the technical and financial assessment of the project which will be carried out by the Ministry of Mines and Energy, the project must receive an Environmental Clearance Certificate from the Ministry of Environment and Tourism to support the issuance of a mining licence.
The corporate objective remains to bring in a qualified technical or financial partner to participate in the development of Lofdal. While difficult market conditions for the resource sector in general, and rare earths in particular persist, Lofdal remains a unique opportunity for a sustainable supply of heavy rare earths outside of China. Furthermore, there are several processing options under development which can offer significant costs savings and the possibility for direct participation in the separation of rare earth oxides in Namibia. In order to safeguard the project in the interim, significant cost saving measures have been implemented on both an administrative and operational level during the mining application review period.

Click here to read the full press release.