Tom Alweendo, the minister of mines and energy for Namibia, has stated that as part of a temporary agreement, his nation has agreed to sell its rare earth minerals to the European Union. These minerals are essential to the development of renewable energy sectors. The deal is a component of the EU member states’ efforts to lessen their reliance on Russian energy.
“In principal, we have agreed on conditions, whatever the materials, to process them here,” Alweendo said.
Namibia has significant reserves of rare earth minerals required for producing permanent magnets used in electric car and wind turbine batteries.
There is great demand for the southern African country’s rare earth metals to power the global transition to green energy, Alweendo said.
Due to to its vast potential for solar and wind energy to produce green hydrogen, Namibia also aims to position itself as an African renewable energy hub.
