Japan pumps millions into rare earths project

The Japan Organisation for Metals and Energy Security (Jogmec) will invest up to N$565 million into its rare earths project in the Kunene region.

The Lofdal rare earth development project was launched by Jogmec and the Canadian mining company, Namibia Critical Minerals Inc (NCMI), in 2020.

The Toyota Tsusho Corporation – a company of the Toyota Group – joined the project in March, participating within Jogmec’s existing ownership interest.