Aldoro Signs Kameelburg Deal With Willetech
Willetech will take a 51% controlling interest in the Namibian critical minerals project through a memorandum of understanding signed with Aldoro Resources.
Updated on Nov. 5, 2026 in Corporate Finance
Aldoro Resources, listed on the ASX under the code ARN, signed a memorandum of understanding with Willetech International Investment for the Kameelburg project in Namibia. Willetech will acquire a 51% interest in roughly six square kilometres of the project, with Aldoro and Namibian local shareholders retaining 49%, free-carried to first production.
Why it matters
The agreement brings in a strategic partner able to supply development capital and industrial capabilities for a project hosting neodymium-praseodymium and strontium resources. For Aldoro, it secures a significant economic interest and board representation without carrying the full cost of development.
Willetech will pay at least $429.1 million in staged development funding for a 51% stake, with $21.5 million in binding initial funding held in a supervised account in China. The release does not specify the milestones that will trigger the staged payments, and the project company may request up to an additional $42.9 million in pre-development spending subject to Willetech's approval.
The players
Aldoro Resources
An ASX-listed explorer, trading under the code ARN, that holds the Kameelburg project and will retain a significant economic interest and board seats after the deal.
Willetech International Investment
A Singapore-headquartered industrial investment platform with operations in Germany, which will take a 51% controlling stake in the Kameelburg project.
The details
Willetech will subscribe for shares in a new project company, Kameelburg Exploration Mining, which will hold the project and become Willetech's controlled subsidiary on completion. The project's resource base includes a mineral resource estimate of 804.5 million tonnes at 2.9% total rare earth oxides equivalent.
Timeline
August: Mineral resource estimate announced for the Kameelburg project.
November 5, 2026: Aldoro and Willetech sign the memorandum of understanding.
Market Landscape
The deal reflects growing competition to secure rare earth supply outside incumbent producers, as governments and industrial groups seek alternatives to concentrated processing. Placing Namibian resources under Asian industrial ownership adds a new source to that push for supply diversification.
Shareholders in Aldoro Resources hold a company whose main project is shifting to a funded development model, with its stake reduced to 49% but its economic interest and board seats preserved. Any future Hong Kong listing of the project company would give investors a new vehicle for exposure to Namibian rare earth resources.
The takeaway
The arrangement shows how junior miners with resource assets can bring in well-capitalised partners to fund development while keeping a meaningful stake. Investors tracking rare earth projects should watch whether the staged funding milestones are disclosed in the definitive agreements.
What happens next
Definitive agreements will set out the milestones for Willetech's staged payments, and the proposed Hong Kong listing of Kameelburg Exploration Mining will depend on development progress and market conditions.
Further reading
For more on how deals like this are structured, see Corporate Finance.
