Page 13 - AfrElec Week 42 2022
P. 13
AfrElec EARTH METALS AfrElec
Namibia, EU reach
provisional deal on rare
earth minerals
NAMIBIA NAMIBIA has provisionally agreed on a deal dysprosium and terbium, needed for permanent
with the European Union to sell its rare earth magnets in the batteries of electric vehicles (EVs)
minerals, critical to the renewable energy sec- and wind turbines.
tors, according to mines and energy minister EU and Namibian officials had told Reuters
Tom Alweendo. in July that they hope to reach a deal on hydro-
“In principal, we have agreed on conditions, gen and minerals as the bloc works to reduce its
whatever the materials, we are going to process dependence on Russian energy.
them here,” Alweendo is quoted by Reuters as Namibia aims to position itself as a renewa-
saying about the approaches being taken to ble energy hub in Africa, also thanks to its vast
ensure Namibia reaps the benefit of its resources. potential for solar and wind energy to produce
The southern African country has signif- green hydrogen.
icant reserves of rare earth minerals, such as
Week 42 20•October•2022 www. NEWSBASE .com P13
