US-Led Consortium Among Firms Shortlisted for Lucrative Kenyan Mining Project

The government of Kenya has shortlisted three finalist bidders in the competitive tender process to develop the Mrima Hill rare earth and niobium project in Kwale County, with a US-led consortium headed by Critical Metals Corp and an Australian consortium involving RareX among the contenders.

In a statement dated July 23, Critical Metals Corp announced that its Mrima Earth Limited Consortium had been shortlisted as one of only three finalists in the government’s tender process.

“Critical Metals is the lead party and has been shortlisted as one of only three finalist bidders to proceed to the final stage of the Government of Kenya’s competitive tender process,” read part of the notice.

Mrima Hill, located along Kenya’s southern coast in Kwale County, is widely regarded as one of the world’s largest undeveloped rare earth and niobium deposits.

Critical Metals Shortlisted for Kenya’s Mrima Hill Rare Earth Project

Critical Metals said the project has strategic importance as global demand for rare earth minerals continues to rise, driven by the transition to clean energy technologies and advanced manufacturing.

If successful, the consortium plans to develop the project beyond mining by establishing downstream processing facilities capable of producing separated rare earth oxides and high-value neodymium-praseodymium (NdPr) magnets, which are widely used in electric vehicles, wind turbines and defence technologies.

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In addition, Critical Metals stated that the consortium is fully funded through the project development phase and the first phase of construction, supported by institutional investors and backed by significant financial resources.

According to the company,  the project has strategic importance as global demand for rare earth minerals continues to rise, driven by the transition to clean energy technologies and advanced manufacturing.

Critical Metals further noted that its long-term vision is to establish Mrima Hill as the centre of a regional rare earth processing industry, creating thousands of jobs across East and Southern Africa while adhering to international environmental and governance standards.

RareX Expects Tender Outcome this Quarter

Elsewhere, the Australian mining company RareX, through its consortium with Iluka Resources, also confirmed it remains in the government’s competitive tender process for the project.

The company described the proposed Mrima Hill project as one of its most significant growth opportunities, saying it would add a second production-scale critical minerals asset to its portfolio if awarded.

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Additionally, RareX said its consortium has been developing its proposal since 2022 and expects the outcome of the Kenyan government’s tender process during the current quarter.

The company added that the project would provide exposure to a globally significant rare earth and niobium deposit while leveraging Iluka Resources’ downstream processing capabilities at its Eneabba refinery in Australia.

Despite expressing confidence in its proposal, RareX cautioned investors that there is no guarantee the consortium will ultimately secure the project.

The company said the granting of a prospecting licence remains subject to the discretion of the National Mining Corporation (NAMICO) and Kenya’s Cabinet Secretary responsible for mining.

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A photo showing Critical metals statement on their shortlisting for kwale mining project. Photo /File