Once it has a definitive feasibility study, management will look to raise capital to reopen the Western Cape’s Steenkampskraal rare earth mine in 2024. Moneyweb Mining
It has been decades since the reopening of the Western Cape’s Steenkampskraal rare earth mine was first mentioned – around the time when touchscreens started to appear in cellular phones and tablets. New reports would surface every few years about the rich ore body containing thousands of tons of rare earth minerals – the highest grade rare earth mine in the world. Interest in Steenkampskraal increased after China severely limited the export of rare earth minerals in 2009.
There are only a few other significant rare earth mines outside of China. A mine in Canada has been operating for a long time, and a new but low-grade deposit was found in Alaska. Read: Tanzania finalising permit for its first rare-earth metals mine Efforts are also underway to reopen an old mine in Australia, as well as developing other deposits.
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