African Mining May 2025 | Page 15

PROJECTS AND EXPLORATION •

Louis Maniquet | Unsplash

Location: Various REE projects in Africa Phase: All in different phases of development Resource: Rare Earth Elements( REEs)

Driven by the energy transition and increasing investments in industrialisation, the global demand for rare earth elements( REEs) 1 is projected to increase four-fold by 2030. African nations rich in RE minerals are accelerating exploration and production efforts to capitalise on this growth. With up to eight rare earth projects set for commissioning across the continent by 2029 – boosting Africa’ s share of the global supply chain to 10 % – the upcoming African Mining Week will spotlight opportunities across the RE value chain.

RE refining, battery manufacturing facility Africa’ s RE sector remains largely untapped, thereby attracting the interest of global project developers eager to unlock its full potential. South African asset manager Novare, for example, signed a R1.8-billion agreement2 in February 2025 with American firm ReElement Technologies to develop a RE refining and battery manufacturing facility. ReElement will contribute its refining technology while Novare will provide funding for the value addition initiative, with construction expected to begin in the second half of 2025.

Lofdal and Longonjo projects In Namibia, the Japan Organization for Metals and Energy Security and Namibia Critical Metals3 completed a production pilot for the Lofdal Project, one of only two xenotime-type heavy RE deposits currently under development worldwide. Meanwhile, in Angola, Pensana4 secured an USD80-million loan from Absa Bank Limited in January 2025 to expedite the rollout of the Longonjo Project, which is expected to supply 5 % of the world’ s magnet metal rare earths demand – essential for the development of wind turbines and electric vehicles.

African Units of Account Major investors are also making bold moves in Africa’ s RE sector. Billionaires Jeff Bezos and Bill Gates5 have injected USD537- million into exploration and mine development through mining startup KoBold Metals, further accelerating Africa’ s RE ambitions. The funding will be directed toward RE mining ventures.

Major investors are also making bold moves in Africa’ s rare earth sector.

Image by Natanaelginting on Freepik

Additionally, recognising the strategic value of REs, multinational financial institution the African Development Bank proposed the development of the African Units of Account( AUA) 6- a new currency backed by Africa’ s critical mineral reserves, including REEs. The initiative would help stabilise regional currency markets and attract more international investment in green energy projects, amidst the growing demand of critical minerals globally and Africa’ s vast reserves.

Phalaborwa, Steenkampskraal, Makuutu, Ngualla, Songwe The year 2025 continues to mark significant milestones in the growth of Africa’ s RE sector, with the advancement of key projects7 such as Phalaborwa and Steenkampskraal( South Africa), Makuutu( Uganda), Ngualla( Tanzania) and Songwe( Malawi). Amid these developments, African Mining Week serves as a strategic platform for African regulators, industry stakeholders and global investors to engage in deal signings and forge partnerships, further solidifying Africa’ s role in the global RE supply chain.

Source: supplied by Energy Capital & Power

Africa’ s rare earth sector remains largely untapped, thereby attracting the interest of global project developers eager to unlock its full potential.

Location: South Africa Phase: Development / Production Resource: Copper zinc

Orion Minerals Limited( ASX / JSE: ORN) is well positioned to become a near-term producer with the delivery of positive Definitive Feasibility Studies( DFS) for its flagship Prieska Copper

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