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Xinfeng processing plant progressing

STAFF REPORTER
Xinfeng Investments Namibia, a subsidiary of Tangshan Xinfeng Thermal Group Company, holds a lithium mining license (no. ML243) and has made significant investment in excess of N$600 million to date. According to spokesperson Hardin Fredericks, this figure is fast approaching N$800 million.

“Since 2022, we have steadily increased the number of employees at both our mines in Omaruru and Uis. To date, the number of employees are 160 permanent jobs, and another 140 temporary jobs, totaling 300 workers,” he said recently.

According to Fredericks, the processing plant is state of the art and one of only three on the continent that deploys dense medium separation technology, proven to be efficient, especially for limited water use and lowered operational cost.

Full operationalization is expected before the end of 2024.

China is among the top three lithium producing countries in the world, while remaining the number one consumer of lithium due its expanding EV industries. Lithium is a commodity in demand and is used for batteries, digital cameras, glass and ceramics to name a few. Lithium is a soft, silvery-white alkali metal and Xinfeng has built a value chain around its exploitation.

Supporting the processing plant, the company’s Uis mine continues to operate. However the open pit mine, “has not exported a single tonne of ore since the final approvals were granted by the minister of mines in November 2023. During 2023, the tonnes exported were used for testing and the result has been the construction of an efficient and fit-for-purpose processing plant,” said Fredericks.

“A key result of the 2023 tests proved that there was significant difference in the quality of lithium

ore mined in Namibia and that required rigorous testing,” he added. “The company remains committed to comply fully with the directive issued by the Namibian government for local beneficiation. The Uis investment remains a priority, in light of the stock feed to be expected for processing,” he said.

Since 2022 Xinfeng works closely with Longfire Investment, a registered Namibian entity, in a joint venture agreement. “In 2023, we were awarded with our environmental clarence certificate (ECC) by the ministry of environment and tourism,” vetting environmental mitigations strategies and technologies deployed to protect the environment and ensure people work in safe spaces, “where dust is significantly suppressed,” he said.

“We depend on that social license for our projects to be deemed as successful,” Fredericks stressed.

Xinfeng donated N$50 000 to the historic Martin Luther High School, and has contributed to the Havana Project School in Windhoek. A N$100 000 contribution in support of the Omaruru Town Council was used for the procurement of food parcels for 600 elderly and vulnerable people.

The current forecast indicates a life of mine term for a minimum of 15 years, he said.

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Allgemeine Zeitung 2024-11-10

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Premier League: Liverpool 2 vs 0 Aston Villa | Brighton 2 vs 1 Manchester City | Wolves 2 vs 0 Southampton | West Ham 0 vs 0 Everton | Crystal Palace 0 vs 2 Fulham | Brentford 3 vs 2 Bournemouth Katima Mulilo: 21° | 34° Rundu: 20° | 25° Eenhana: 19° | 29° Oshakati: 22° | 30° Ruacana: 20° | 31° Tsumeb: 21° | 30° Otjiwarongo: 18° | 30° Omaruru: 16° | 31° Windhoek: 15° | 28° Gobabis: 16° | 31° Henties Bay: 12° | 19° Wind speed: 26km/h, Wind direction: S, Low tide: 04:05, High tide: 10:43, Low Tide: 17:11, High tide: 23:27 Swakopmund: 14° | 15° Wind speed: 37km/h, Wind direction: SW, Low tide: 04:03, High tide: 10:41, Low Tide: 17:09, High tide: 23:25 Walvis Bay: 12° | 21° Wind speed: 39km/h, Wind direction: SW, Low tide: 04:03, High tide: 10:40, Low Tide: 17:09, High tide: 23:24 Rehoboth: 14° | 30° Mariental: 13° | 30° Keetmanshoop: 10° | 28° Aranos: 14° | 31° Lüderitz: 14° | 24° Ariamsvlei: 11° | 29° Oranjemund: 15° | 20° Luanda: 25° | 26° Gaborone: 18° | 22° Lubumbashi: 16° | 32° Mbabane: 17° | 21° Maseru: 12° | 26° Antananarivo: 15° | 32° Lilongwe: 23° | 34° Maputo: 21° | 29° Windhoek: 15° | 28° Cape Town: 15° | 24° Durban: 18° | 20° Johannesburg: 15° | 20° Dar es Salaam: 25° | 31° Lusaka: 22° | 34° Harare: 21° | 33° Currency: GBP to NAD 22.67 | EUR to NAD 18.84 | CNY to NAD 2.45 | USD to NAD 17.58 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.25 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.64 | ZWL to NAD 0.04 | BRL to NAD 3.06 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 133.12 | USD to AOA 909.05 | USD to BWP 13.4 | USD to EGP 49.25 | USD to KES 129.2 | USD to NGN 1664.84 | USD to ZAR 17.59 | USD to ZMW 27.2 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1851.79 Down -1.41% | Casablanca Stock Exchange (CSE) MASI 14663.22 Up +1.21% | Egyptian Exchange (EGX) 30 Index 31267.47 Up +0.72% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - 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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 684.46/OZ DOWN -0.0083 | Copper US$ 4.30/lb DOWN -0.027 | Zinc US$ 3 003.50/T UP 0.17% | Brent Crude Oil US$ 74.29/BBP DOWN -0.0215 | Platinum US$ 969.80/OZ DOWN -0.0274