• Mining
Friday, October 24, 2025
Mining and Energy Namibia | Namibia’s Leading Mining & Energy News
Subscribe
No Result
View All Result
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc
No Result
View All Result
Mining and Energy Namibia | Namibia’s Leading Mining & Energy News
No Result
View All Result
Home Mining

Bannerman completes Namibia Critical Metals acquisition

by editor
August 16, 2022
in Mining, Uranium
1.7k 111
A A
0

Bannerman Energy has completed the acquisition of a 41.8% stake in listed critical minerals explorer Namibia Critical Metals Inc (NMI).

The deal which was settled through a N$83.4 million (A$7.24-million) cash payment plus, 846 337 Bannerman shares, gives Bannerman access to NMI’s advanced and fully permitted Lofdal heavy rare earths project in Namibia.

NMI’s core asset is the 95%-owned advanced and fully permitted Lofdal Heavy Rare Earths Project in Namibia, with the remaining 5% stake in the project held for the benefit of historically disadvantaged Namibians.

“Our strategic shareholding in NMI gives our shareholders exposure to heavy rare earths, in particular dysprosium and terbium. Despite being two of the most strategically important minerals on the planet, NMI’s Lofdal project is one of the very few development projects outside of China that are enriched in these metals,” said Bannerman MD and CEO Brandon Munro.

“As Lofdal moves closer to production, our partnership offers strong potential to leverage Bannerman’s extensive in-country expertise and credentials, in particular in the environment, social and governance sphere.”

The announcement comes as Bannerman announced this month that it has submitted its Mining Licence (ML) Application with the Ministry of Mines and Energy (MME) for the proposed Etango-8 uranium mine.

The development means the company will be expected to submit a Definitive Feasibility Study (DFS) for Etango-8, which it expects to be completed during the December quarter, as part of its engagement process with the Mines ministry.

Bannerman already has Environmental Clearance Certificates (ECC) for the Etango Uranium Project and linear infrastructure, which remain current and were based on an extensive Environmental and Social Impact Assessment and Environmental and Social Management Plan.

The Etango Uranium Project located in the Erongo Region, is Bannerman’s flagship asset which has benefited from extensive exploration and feasibility activity over the past 15 years.

The Etango tenements possess a globally large-scale uranium mineral resource according to the company.

author avatar
editor
See Full Bio
Share391Tweet245

Related Posts

Swakop Uranium spends N$7.4bn on local procurement in 2024
Uranium

Swakop Uranium spends N$7.4bn on local procurement in 2024

  Swakop Uranium spent N$7.4 billion on local procurement in 2024, reaffirming its role as one of Namibia’s largest contributors...

October 22, 2025
bp confirms gas condensate discovery at Volans-1X well in Namibia
Mining

bp confirms gas condensate discovery at Volans-1X well in Namibia

  bp has confirmed the preliminary results of the Volans-1X exploration well in Namibia’s Orange Basin, according to a statement...

October 22, 2025

Recommended

Andrada Mining spends N$143m on local procurement

Andrada Mining spends N$143m on local procurement

3 years ago
NCCI, Antila Consultancy partner to host local content oil and gas conference 

NCCI, Antila Consultancy partner to host local content oil and gas conference 

2 years ago
Load More

Newsletter

Black transparent logo for dark mode

About Us

The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors

Categories

  • Copper
  • Diamonds
  • Energy
  • Gold
  • Green Hydrogen
  • Lithium
  • Mining
  • Namibia
  • News
  • Oil & Gas
  • Opinions
  • Tin
  • Uranium
  • Zinc

Get in touch

Email:newsdesk@miningandenergy.com.na

© 2024 Mining and Energy | All Rights Reserved. The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Diamonds
  • Oil & Gas
  • Uranium
  • Green Hydrogen
  • Gold
  • Lithium
  • Energy
  • Copper
  • Zinc

© 2024 Mining and Energy | All Rights Reserved. The Namibia Mining and Energy website is a comprehensive online platform dedicated to showcasing Namibia's mining and energy sectors.