04:45 PM EDT, 08/31/2026 (MT Newswires) -- Namibia Critical Metals (NMI.V) Monday after trade confirmed it is working with its joint venture partners, Japan Organization for Metals and Energy Security (JOGMEC) and Toyota Tsusho, to complete the conditions to establish TJ Namibia Rare Earths, the company that will hold JOGMEC's 50% participating interest in the Lofdal Heavy Rare Earth Project in Namibia.

The transaction was first announced July 30 and JOGMEC recently completed its C$23 million earn-in commitment for its stake in the project.

Lofdal is an advanced-stage heavy rare earth projects with significant exposure to dysprosium, terbium and yttrium.

Namibia Critical Metals shares closed unchanged at C$0.20, on the TSX Venture Exchange.

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