# Namibia Critical Metals Nears Completion of Restructured Lofdal Joint Venture

- URL: https://stocks.freetheai.org/news/namibia-critical-metals-nears-completion-of-restructured-lofdal-joint-venture-02a379
- Published: 2026-10-13T12:00:00Z
- Category: company_news; sentiment: mixed; impact: medium
- Symbols: [TSXV:NMI](https://stocks.freetheai.org/symbols/TSXV-NMI)
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Namibia Critical Metals Inc. (TSXV:NMI) expects final shareholder and regulatory consents for its restructured Lofdal joint venture to be completed within the next 30 days. Project partners Japan Organization for Metals and Energy Security (JOGMEC) and Toyota Tsusho Corporation have successfully satisfied the C$23 million expenditure requirement to earn a 50% stake in the venture. Shares of Namibia Critical Metals Inc. were trading down 2.94% at 0.165 CAD following the update.

Reaching the spending threshold confirms the earn-in milestone, de-risking project funding while transferring a 50% interest to TJNREC. Under the restructured terms, JOGMEC holds a right of first refusal to fully fund the project through to commercial production. Furthermore, Namibia Critical Metals Inc. retains a protected ownership floor of 21%, accompanied by a $5 million payment provision.

Investors will be watching for formal regulatory approvals and shareholder consents over the coming month. Once these final steps are completed, formal issuance of the equity interest and execution of definitive agreements could clear the path for future development and supply arrangements.

## Key points

- Partners JOGMEC and Toyota Tsusho completed the C$23 million spending milestone to acquire a 50% interest in the Lofdal project.
- Shareholder and regulatory approvals for the restructured joint venture are anticipated within the next 30 days.
- JOGMEC holds a right of first refusal to provide complete funding for the project through to commercial production.
- Namibia Critical Metals maintains a minimum project ownership floor of 21% backed by a $5 million payment provision.

## Questions and answers

### What is the status of the Namibia Critical Metals joint venture?

Namibia Critical Metals expects final shareholder and regulatory consents for its restructured Lofdal joint venture within the next 30 days after partners met investment requirements.

### Who are the joint venture partners in the Lofdal project?

The joint venture partners are Japan Organization for Metals and Energy Security (JOGMEC) and Toyota Tsusho Corporation, which earned a 50% stake by spending C$23 million.

### What is Namibia Critical Metals minimum stake in Lofdal?

Namibia Critical Metals retains a minimum ownership floor of 21% in the project along with a $5 million payment mechanic.