E-Tech Resources Signs MOU to Advance Feasibility Study for Rare Earth Metal Separation Facility in Namibia.
Halifax, Nova Scotia – (Newsfile Corp. – May 17, 2023) – E-Tech Resources (TSX-V:REE | FSE: K2i) (“E-Tech” or the “Company”) announces the signing of a memorandum of understanding (MOU) aimed at exploring the potential of a feasibility study for a rare earth separation plant in Namibia with two other Namibian rare earth operators.
Addressing the global bottleneck in rare earth element (REE) separation, E-Tech recognizes the need for a de-risked supply chain for these strategic critical raw materials. While various separation technologies are available, the establishment of separation facilities requires substantial upfront capital investment, a reliable supply of raw materials, and a critical mass to ensure viable operation. Consequently, E-Tech Resources, alongside two other advanced rare earth project developers in Namibia, is exploring the option of conducting a feasibility study for a potential separation plant in Namibia.
In addition to E-Tech Resources, the parties involved in this exploration are Ondoto Rare Earth (Pty) Ltd., a private Namibian company developing the high-grade Ondoto bastnaesite deposit in northern Namibia, and Namibia Critical Metals Inc. (TSXV: NMI OTC: NMREF) who are developing the Tier-1 Heavy Rare Earth Project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Together, the three companies will participate in a joint venture known as the “Rare Earth Alliance Namibia” (REAN).