MDM Mdm Engin.

TIDMMDM

RNS Number : 8593H

MDM Engineering Group Ltd

23 May 2014

MDM Engineering Group Limited

("MDM" or the "Company")

MDM is awarded PEA for Namibia Rare Earth's Lofdal Project

MDM Engineering Group Limited (AIM: MDM), the minerals process and project management company focused on the mining industry in Africa, is pleased to advise that it has been awarded the Preliminary Economic Assessment ("PEA") for Namibia Rare Earths Inc.'s ("NRE") Lofdal Rare Earth Project in Namibia ("Lofdal").

Lofdal has been developed over a very short period of time since the recognition of the mineral district in 2008, to the discovery of the heavy rare earth enriched zones in 2010. The delineation of a first mineral resource in 2012 followed by the preliminary indication that a xenotime concentrate can be produced from Lofdal and that thorium can be removed marked significant milestones. The potential of Lofdal to host a number of new rare earth deposits, and in particular, deposits with exceptional heavy enrichment, is the essence of the project opportunity with NRE.

MDM has been awarded the next phase of work and will complete a 43-101 compliant PEA.

Kevin Stock, MDM GM Proposals said:

"The MDM team are confident in being able to deliver the PEA in accordance with Namibia Rare Earths expectations and look forward to continuing our successful working relationship for a long time to come."

Enquiries:

 
 MDM Engineering Group Limited         Tel: +27 11 993-4300 
 Martin Smith (CEO) 
 George Bennett (Executive Director) 
 
 Canaccord Genuity Limited             Tel: +44 (0) 207 523 8000 
 NOMAD and Broker 
 Neil Elliot 
 Chris Fincken 
 Joe Weaving 
 
 Tavistock Communications              Tel: +44 (0) 207 920 3150 
 Financial Public Relations and 
  Investor Relations 
 Emily Fenton 
 Jos Simson 
 

KEY INFORMATION:

MDM:

MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. The Company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. To date, the Company's clients have largely been junior and mid-tier mining corporations with operations in Africa.

The MDM Engineering core technical team has a 25 year track record of completing a wide range of studies and execution projects across a variety of minerals, including precious metals, base metals, ferrous and non-ferrous metals, uranium and diamonds.

The Company has adopted an approach to project execution based on an open-book Engineering, Procurement, and Construction Management "EPCM" or "cost-plus" basis and on a Engineering, Procurement and Construct (EPC) basis. With a core focus on Africa, MDM Engineering is setting the benchmark standard for best practice in the mining services industry through its commitment to providing the highest quality services and actively engaging with clients to ensure maximum transparency.

www.mdm-engineering.com

NAMIBIA RARE EARTHS:

Namibia Rare Earths Inc. (TSX:NRE) is a Canadian public company listed on the Toronto Stock Exchange which is focused on the accelerated development of its 100% held Lofdal Rare Earth Project in Namibia.

www.namibiarareearths.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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