- JOGMEC aims to support Japanese companies in buying stakes in mines for rare metals, including lithium, nickel and rare earths.
- Last year, Japan’s industry ministry selected 25 countries as potential analysis targets based on their strategic significance in natural resources and energy policy.
The Japan Organization for Metals and Energy Security (JOGMEC) has said it will help Japan secure a stable supply of metal and mineral resources, including critical minerals used in electric vehicle batteries and battery storage production. It aims to support Japanese companies in buying stakes in mines for rare metals, including lithium, nickel and rare earths, to get concessions on an annual output of over 107,000 metric tons in the five years through March 2028.
It wants to help companies acquire equity stakes worth more than 40,000 tons a year for copper. In December, JOGMEC signed a cooperation agreement with the Saudi Arabian investment fund, Manara Minerals, on coordinating investments in the mining and mineral resources sector. JOGMEC’s CEO, Ichiro Takahara, said that resource countries are increasingly keen on joining Japan to build global supply chains for critical minerals, not just export their resources.
Last year, Japan’s industry ministry selected 25 countries, including Chile, the Democratic Republic of Congo and Qatar, as potential analysis targets based on their strategic significance in natural resources and energy policy. Takahara said, “JOGMEC would look around the world and deepen our relationship with important countries by diversifying our supply sources rather than focusing on certain regions.”