Aldoro Resources has confirmed a maiden inferred mineral resource estimate (MRE) of 279.9 million tonnes at 2,450 ppm Total Rare Earth Oxides (TREO) equivalent for its Kameelburg Rare Earth Element-Niobium Project in Kunene, making it one of the largest undeveloped REE-Nb assets on the continent.
The estimate, announced on 2 August 2025, is based on Phase I diamond drilling comprising just 12 holes totalling 3,923 metres over a 2.7 km mineralised strike.
The project area, located in the central Damara Belt, hosts surface-exposed supergene carbonatite mineralisation with strong enrichment in neodymium (Nd), praseodymium (Pr), niobium (Nb), and molybdenum (Mo).
According to Aldoro, the high proportion of magnet rare earths, particularly NdPr at 24.5% of the total rare earths, underlines the strategic importance of the deposit in global electrification supply chains.
Chairperson Quinn Li described the delivery of the JORC-compliant estimate within 11 months as “a significant achievement” and said it “represents an important value outcome for Aldoro shareholders.”
She added that the maiden estimate only covers the initial 12 holes, with a further update due “encompassing the entire ~9,500 metre Phase I diamond holes in the coming weeks where we expect the Kameelburg deposit to be undeniably of Tier 1 scale.”
“The key attributes of the Kameelburg resource are considered to be world-class.
It is rare to discover a deposit as large as Kameelburg that commences at the surface with little overburden, is domiciled in the pre-eminent mining jurisdiction in Africa, being Namibia and critically is supported by extensive commercialisation infrastructure already in place,” Li said.
She noted that metallurgical and recovery studies are expected in early September 2025, to be followed by maiden drilling at Aldoro’s adjacent Omurango Carbonatite target, where a magnetic survey will commence in August.
According to Li, this work may confirm the presence of heavy rare earths and higher-grade niobium mineralisation—enhancing both the scale and grade of Kameelburg and potentially “propelling Aldoro toward global recognition.”
The resource hosts an estimated 685,000 tonnes of contained TREO, including 168,000 tonnes of neodymium and praseodymium oxide (NdPr) and 165,000 tonnes of niobium oxide (Nb₂O₅).
The estimated molybdenum (Mo) content is 335,000 tonnes.
The mineralisation is hosted in a flat-lying saprolite unit from the surface to a depth of 120 m and remains open in all directions.
Using Lofdal project cost analogs (mining + processing) of around US$92/t of mined ore, an initial operating cost estimate for Kameelburg would imply 279.9 Mt × US$92/t ≈ US$25.7 billion (CAPEX + OPEX).
Assuming a basket price of roughly US$6,000 per tonne TREO equivalent and ~2.45% TREO content, project in-situ value before processing could exceed US$4.1 billion (279.9 Mt × 0.0245 × 6,000).
Adjustments would be needed for recovery rates (~62% Nb₂O₅, 80% Mo), infrastructure, capital development, and financial structuring.
The maiden MRE was independently prepared by Earthlab Technical Division (South Africa) and conforms with JORC 2012 standards.
Aldoro will now incorporate this estimate into scoping-level studies to assess development options.
The company said the updated model and classification will guide the design of a Phase II drilling campaign to test further strike and depth extensions.
The goal is to convert additional mineralisation to Inferred and Indicated categories and upgrade resource confidence.
Kameelburg’s surface-accessible mineralisation and logistical access—via the B2 national highway, rail infrastructure, and grid power—offer further advantages as Aldoro positions itself for feasibility work.
The company views Namibia as a Tier 1 mining jurisdiction and intends to advance Kameelburg as a strategic REE and niobium supplier amid rising demand for permanent magnets, superalloys, and advanced electronics.
