Iron flows from Lodestone Namibia

Lodestone Namibia is Namibia’s first iron ore mine coming into small scale production for the cement industry in 2015. Once the Dordabis project is fully implemented, Lodestone will produce very pure iron ore concentrates, ranging from 68% iron for the steel industry, to 71% iron for niche industrial customers. The mine is located 20 kilometres North of Dordabis, about 75 kilometres from Windhoek.Last year Lodestone completed its first bulk shipment to the international market in a record time of six months. The mine was able to bring one shipment of iron ore fines at 59% iron and high iron-oxide content to the market on 27 August 2021. Using only Namibian contractors and operational capabilities this achievement was done in an abnormal price environment, and addressed a lot of the early concerns on logistics expressed by potential funders. Namibia is not yet known as a bulk commodity exporter. Lodestone also completed a world class investment grade feasibility study which is now considered to be a junior miner benchmark. The organisation is exceptionally well positioned to take full advantage of the high demand for high grade ores in the Middle East and North Africa, with a time to market of less than 18 months for its first demonstration phase which would see an eventual ramp up to 2,5 million tons exported per year, within 5 years. Lodestone can deliver to a wide range of markets that focus on the production of direct reduced iron or require feeds for more traditional blast furnaces. Extraordinary flexibility for their high-grade product at a competitive cash production cost gives the company tremendous flexibility.AT END 2021OUTPUT: 75,718TONNES OF IRON ORE PERMANENT EMPLOYEES: 1 TEMPORARY EMPLOYEES: 14 CONTRACTORS EMPLOYED: 150 EXPATRIATE EMPLOYEES: 0EXPLORATION LICENSES: EPL 4265 · EPL 7352 · EPL 7847 MINING LICENSE: ML 182 LIFE OF MINE: 2038 TURNOVER IN 2021: N$54 million EXPENDITURE ON TRAINING & SKILLS DEVELOPMENT: N$155 472 WAGES & SALARIES: N$15,4 million TOTAL PROCUREMENT SPEND: N$91.58 million FIXED INVESTMENT: N$35 million ROYALTIES PAID: N$173,879 LOCAL PROCUREMENT SPEND: N$70.79 million

Iron flows from Lodestone Namibia

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Iron flows from Lodestone Namibia

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