Namibia Approves SQM’s $40M Lithium Investment in Lithium Ridge Project

Sociedad Química y Minera(SQM)

Chile’s SQM Joins Andrada to Accelerate Namibia’s Critical Mineral Development

Namibia’s Competition Commission (NaCC) has officially approved the strategic partnership between Chile’s SQM (Sociedad Química y Minera de Chile) and Namibia-based Andrada Mining, granting the final green light for the development of the Lithium Ridge project. This regulatory clearance paves the way for SQM to acquire up to a 50% stake in the project by fully funding up to $40 million in exploration activities and the completion of a definitive feasibility study (DFS).

Lithium Ridge Positioned as Key Regional Critical Minerals Asset

Located in Namibia’s Erongo region, Lithium Ridge contains pegmatites rich in lithium, tin, and tantalum, all of which are essential for electric vehicles (EVs), battery energy storage systems (BESS), and advanced electronics. With surging global demand for these materials, the project is positioned to become a strategic asset in Africa’s growing critical minerals economy.

The collaboration gives SQM access to high-grade mineral assets outside its traditional Latin American base, while Andrada gains global expertise and the financial backing necessary to scale development. Together, the companies aim to unlock the full value of Lithium Ridge and establish Namibia as a stable and significant supplier in the battery supply chain.

Namibia’s Role Grows in the Global Energy Transition

This deal comes as governments and industries increasingly look to diversify raw material sourcing amid geopolitical uncertainty. SQM’s planned investment and operational involvement reflect both confidence in Namibia’s regulatory framework and recognition of the country’s vast untapped mineral potential.

For Andrada Mining, the partnership is also a validation of its long-term strategy to lead in Namibian critical raw materials development. As SQM and Andrada move forward, the Lithium Ridge project is expected to deliver regional economic benefits while supplying global markets with responsibly sourced lithium and associated metals.