Dundee eyes rare earth metals

Dundee Precious Metals says it is keen to start treating rare earth minerals at its Tsumeb-based smelter, owing to the growing interest in these minerals for industrial applications.

Dundee Precious Metals’ CEO David Rae announced the company’s planned foray into the rare earth minerals’ space, saying there was room for opportunity to utilise these resources, which he said were often considered waste material.

“What we have realised is that there are critical elements in the form of germanium, gallium on site, and we are considering if there is a possibility to treat these minerals at the smelter,” Rae said during a courtesy call to State House to brief President Hage Geingob on the smelter’s future plans on Friday.

Rae also touched on the contentious New Economic Equitable Empowerment Bill currently undergoing consultation and said Dundee was keen to play its part and see government achieve its goals around wealth distribution.

“We are committed to our empowerment initiatives, and we continue to view this as very important from the point of view of us being a part of Namibia. It is something we pay attention to, and we see how we can create wealth not just at the smelter but for all disenfranchised groups,” he said.