E-Tech Resources Inc., a rare earth element exploration and development company which owns 100% of the Eureka Project in Namibia, is pleased to announce that it has signed a Memorandum of Understanding with Novamera Inc. to evaluate the use of surgical mining and Novamera’s technologies as the extraction method for the Project. The MOU sets out a series of milestones that include a conceptual surgical mining economic desktop evaluation (commencing immediately), Guidance Tool calibration activities and a bulk sample. The parties are planning to initiate these activities over the next twelve months.
The innovative solution could provide a more cost-effective and faster path to production, while also radically reducing environmental and social impact. It aligns well with E-Tech’s values of being a sustainable and responsible company with the goal of supporting the green energy transition. The Project focuses on two Rare Earth Elements, Neodymium and Praseodymium. Nd plays a vital role in supporting renewable power generation and the decarbonisation of transportation and is used to facilitate large wind turbine generators and electric vehicle motors.
“E-Tech is advancing the development of the Eureka deposit by utilizing innovative and leading-edge technology. The minerals of the future will require techniques and approaches that are in line with the ESG principles of their end use. We believe that Novamera’s technologies are revolutionary and E-Tech is thrilled to be at the forefront of exploring new mining methods,” says Todd Burlingame, E-Tech CEO. “We are committed to finding sustainable and cost-efficient ways to mine the materials essential for building a low carbon economy, while also protecting and preserving the environment.”
Located in Namibia, the Project’s mineralogy, processability, and favorable logistics have the potential to make it one of the simplest and most accessible sources of REE supply to the global market.
“We are excited to be working with E-Tech and demonstrating the capabilities of our surgical mining technologies. Mining companies like E-Tech are looking for solutions to bring deposits into production with a smaller environmental footprint than that of conventional mining methods,” says Dustin Angelo, Novamera CEO. “The willingness to look at a different business model will open more strategic options to generate value for their shareholders and realize positive cash flow sooner for a project.”
