Japan signs deal with Namibia to explore for rare earth minerals
The Japan Organization for Metals and Energy Security (JOGMEC) will collaborate with Namibia's state-owned mining firm Epangelo, a Namibia mines and energy ministry official said on the sidelines of the signing ceremony in Windhoek.
Details of the agreement were not immediately available.
Yasutoshi Nishimura, Japan's minister for economy, trade and industry is visiting five countries with significant deposits of rare earths, including Namibia, Zambia and Democratic Republic of Congo to try to build an African supply chain of critical minerals.
Japan, like other advanced economies, is seeking to be less reliant on China, which has dominated supplies of battery minerals.
JOGMEC is already partnering with Namibia Critical Metals Inc. in developing the Lofdal deposit, rich in yttrium, in north-western Namibia, which is the country's most advanced rare earth project.
In addition to yttrium, used in alloys, the Lofdal deposit has the potential for significant production of dysprosium and terbium, two of the most valuable heavy rare earth elements, used in permanent magnets in the batteries of electric cars and in wind turbines.
In 2022, Namibia signed an agreement to supply rare earth minerals to the European Union.
Source: Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/Related
Namibia resumes poultry imports with SA after bird flu ban 16 Aug 2024 Namibia investigates surge in rhino poaching in Etosha park 3 Apr 2024 Namibia breaks ground on continent's first green iron facility 7 Nov 2023 Namibia bans poultry imports from SA due to bird flu 28 Sep 2023 Namibia bans export of unprocessed critical minerals 12 Jun 2023 Namibia declares outbreak of Crimean-Congo fever after patient dies 25 May 2023
