Broadmind Mining (Pty) Ltd is moving forward with plans to develop its Eisenberg rare earth project near Kalkfeld, Namibia.
The company has applied for a mining license to enable the extraction of rare earths from the site, with the proposed operation having a 25-year lifespan.
The project, which recently obtained an environmental clearance certificate, holds an inferred mineral resource of 569.74 million tonnes at a cut-off grade of 0.2% total rare earth oxides (TREO), according to a technical summary by DMT for 2024. Further drilling is planned to upgrade the resource classification, followed by a Pre-Feasibility Study (PFS).
The Eisenberg Carbonatite Project targets an annual production of 700 kilotonnes of rare earth elements (REE), with a capital investment of US$1.032 billion. A Pre-Feasibility Study, finalized in May 2024, projects a pre-tax net present value (NPV) of US$649 million and an internal rate of return (IRR) of 25.6%, with a payback period of 5.63 years.
Broadmind Mining’s phased development plan includes permitting, preconstruction, site clearing, mine construction, operation, and eventual decommissioning. Ongoing monitoring and rehabilitation will accompany the operation, which will be followed by the final decommissioning, closure, and aftercare stages.
The company plans to initiate mining, processing, and exploration activities once the required regulatory permits—including a Mining License (ML), Environmental Clearance Certificate (ECC), and freshwater and wastewater discharge permits—are granted by the Namibian Government.
If the mining license is approved, it will cover 44,326.91 hectares, enabling the company to carry out mining, processing, and continued exploration.
Broadmind Mining is developing the project in partnership with Japan Oil, Gas, and Metals National Corporation, with the aim of securing a long-term, sustainable supply of heavy rare earths to Japan. This follows Namibia’s provisional agreement with the European Union (EU) in 2022 to sell its rare earth minerals, which are critical for the renewable energy sector.
