South Africa's Steenkampskraal Mine Resumes Rare Earth Production, $2B in Reserves

According to MoneyDJ, on July 2, South Africa's Steenkampskraal Monazite Mine announced the resumption of high-purity mixed rare earth production, becoming Africa's first facility with this capability. The mine holds reserves valued at approximately $2 billion (330 billion South African rand). The first-phase metallurgical processing plant is expected to commence operations in August 2026, with funding provided by the Industrial Development Corporation (IDC). The Steenkampskraal operation, which ceased production over 60 years ago, has obtained approval from South Africa's nuclear regulatory authority and the Department of Mineral and Petroleum Resources.
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