Rift Valley Resources is targeting an increase in the size of its resource at its Longonjo project – which could make it one of the largest Neodymium / Praseodymium projects in the world, linked by world class infrastructure to a major Atlantic port.
Angola – In order to achieve this, the Rift Valley Angolan team have completed first aid training ahead of a 9 000 m drill programme scheduled to commence next month.
“We have a fantastic crew in Angola, very professional and hard working,” comments Rift Valley Resources CEO Dave Hammond.
“They are very much looking forward getting stuck into this exciting drill programme at the Longonjo NdPr project,” he continues.
The project is fortunate with infrastructure that sets it apart from most other projects in the world.
Located adjacent to a recently constructed US$1.8 billion rail line, the project is linked to the major port of Lobito on the Atlantic coast which has recently undergone a $2 billion refurbishment.
Low cost power will come from a connection to the Gove 65 MW hydroelectric dam 38 kilometres away.
Clean energy revolution
The clean energy revolution has resulted in a dramatic increase in demand for battery metals, notably lithium and cobalt.
Attention is now turning to a very much larger market; the rapidly growing application of electric motors to virtually all walks of life.
From electric vehicles to grid scale wind turbines, electric motors will be at the core of our clean energy future.
NdPr motors are expected to become the dominant EV technology for years to come as power-train motors featuring permanent magnets provide faster acceleration, reduced vehicle weight and additional space for other components.
Following a series of acquisitions over recent years China now controls over 96% of the production of NdPr metals, which are a key component in the manufacture of electric motors.
There is currently only one listed NdPr producer in the world today and it sells most of its product to China.