Bannerman completes NMI buy

16th August 2022 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH ( – Uranium developer Bannerman Energy has completed the acquisition of a 41.8% shareholding in TSX-V listed critical minerals explorer Namibia Critical Metals Inc (NMI).

The company in May unveiled the A$7.24-million in cash and 846 337 Bannerman shares, post a share consolidation, transaction, which would give Bannerman access to NMI’s advanced and fully permitted Lofdal heavy rare earths project in Namibia.

“Our strategic shareholding in NMI gives our shareholders exposure to heavy rare earths, in particular dysprosium and terbium. Despite being two of the most strategically important minerals on the planet, NMI’s Lofdal project is one of the very few development projects outside of China that are enriched in these metals,” said Bannerman MD and CEO Brandon Munro.

“As Lofdal moves closer to production, our partnership offers strong potential to leverage Bannerman’s extensive in-country expertise and credentials, in particular in the environment, social and governance sphere.”

Bannerman previously said that the NMI acquisition offered significant strategic alignment and development synergies with Bannerman’s flagship Etango uranium project in Namibia, which the company remained intent on developing.