Namibia, EU reach provisional deal on rare earth minerals

EU and Namibian officials told Reuters in July they were planning a deal on hydrogen and minerals as the bloc works to reduce its dependence on Russian energy.
"In principal, we have agreed on conditions, whatever the materials, we are going to process them here," Alweendo said about the approaches being taken to ensure the southern African country reaps the benefit of its resources.
Namibia has significant reserves of rare earth minerals such as dysprosium and terbium needed for permanent magnets in the batteries of electric cars and wind turbines.
Geological projects planned
The European Union wants easier access to minerals in Namibia, and plans geological projects to explore the resources of a country which is nearly as big as the combined territory of France and Germany, an EU official told Reuters in July.
Alweendo said there was demand for the southern African country's rare earth metals to power the global transition to green energy.
Namibia aims to position itself as a renewable energy hub in Africa, also thanks to its vast potential for solar and wind energy to produce green hydrogen.
Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/Related
Discussing green energy's sustainability, security, and growth 28 Jul 2025 SAWEA NQF Level 3 Wind Turbine Operator Skills Programme key to address unemployment 20 May 2025 Africa better equipped for 'critical’ minerals boom 19 May 2025 Addressing the education disconnect in the mining industry 16 May 2025 Namibia's new president vows to diversify economy, tackle joblessness 24 Mar 2025 A hot and troubled world of work: How South Africa’s bold new climate act and labour law can align to drive a just transition 29 Jan 2025