Japan is investing up to $34 million (C$47.7 million) in a heavy rare earth mining project in Namibia, strengthening Africa’s position in the global race to secure critical minerals used in electric vehicles, renewable energy and defence technologies.
Japan’s state-backed Japan Organization for Metals and Energy Security (JOGMEC) said on Thursday it would invest in TJ Namibia Rare Earths, a special purpose company established by Toyota Tsusho to develop the Lofdal Heavy Rare Earth Project in Namibia’s Kunene Region. The initial investment was made on July 23.
The partners plan to complete a definitive feasibility study before making a final investment decision during Japan’s 2026 financial year, which ends in March 2027.
The project is expected to become Japan’s first rare earth mine development in Africa, marking a significant milestone in Tokyo’s efforts to build more resilient supply chains for critical minerals.
The Lofdal deposit contains substantial reserves of dysprosium and terbium, heavy rare earth elements essential for manufacturing high-performance permanent magnets used in electric vehicle motors, wind turbines, robotics and advanced defence systems.
