Japan Invests Millions in Namibian Rare Earths Project for Stable Supply
The Japan Organisation for Metals and Energy Security (Jogmec) is investing up to N$565 million in a rare earths project in Namibia's Kunene region. This project, a collaboration with Namibia Critical Minerals Inc (NCMI) and Toyota Tsusho Corporation, aims to secure a stable supply of rare earths for Japan. The Lofdal project, which began in 2020, focuses on extracting heavy rare earth resources essential for manufacturing permanent magnets used in automobile motors. The project has a 25-year mining license, with 5% ownership reserved for historically disadvantaged Namibians. 
