• Australian junior secures about $2.3 million to fund exploration at Kameelburg
• Drilling and feasibility work to move forward on large rare earth deposit
• Project adds to Namibia’s growing role in global rare earth supply

Aldoro Resources has raised fresh capital to push ahead with exploration at its rare earth project in Namibia, as interest in the sector continues to grow.

The Australian junior miner said on May 4 that it secured A$3.27 million, or about $2.3 million, through a market transaction. The company plans to use the funds to advance exploration and development work at its Kameelburg project.

The financing comes from an agreement covering the subscription of all outstanding stock options that had not yet been exercised. Aldoro said the proceeds will support ongoing work at Kameelburg, including a metallurgical drilling program set to begin soon, along with studies to define the project’s economic parameters through an ongoing feasibility assessment.

The company said the funding strengthens its financial position at a key stage and will allow it to continue drilling deeper with its Smart 8 rig while advancing metallurgical testing that has already shown favorable processing characteristics.

Kameelburg hosts about 520 million tons of mineral resources, with an average grade of 2.49% total rare earth oxide equivalent. Aldoro aims to expand this resource base through ongoing exploration, moving gradually toward the potential development of a mine.

The project comes at a time of rising global demand for rare earths, driven by their role in clean energy technologies.

While the new funding supports near-term work, it is not enough on its own to carry the project through all development stages. Advancing a deposit to economic viability requires time and sustained investment.

Kameelburg is already part of a broader pipeline of rare earth projects in Namibia. The country hosts more advanced developments such as Lofdal, as well as other prospects like Eisenberg, operated by Broadmind Mining.

Aurel Sèdjro Houenou