Japan Has Signed An Agreement With Namibia To Explore Rare Earth Minerals To Reduce Its Dependence On China

On Tuesday, Japan signed an agreement with Namibia to jointly explore for rare earth minerals, Reuters reported. Details of the agreement were not immediately available.
Officials from Namibia's Ministry of Mines and Energy said on the sidelines of the signing ceremony in the capital Windhoek that the Japanese Metals and Energy Security Organization (JOGMEC) will work with Namibian state-owned mining company Epangelo.
Japan's minister of Economy, Trade and Industry, Yasunori Nishimura, is visiting five countries with significant rare earth reserves, including Namibia, Zambia and the Democratic Republic of Congo, in an attempt to establish a supply chain for key minerals in Africa.
Like other advanced economies, Japan is seeking to reduce its dependence on China. At present, China dominates the supply of battery minerals.
JOGMEC has partnered with Namibia Critical Metals Inc. to develop the yttrium-rich Lofdal mine in northwest Namibia, the most advanced rare earth project in the country.
In addition to yttrium for alloys, the Lofdal deposit has the potential to produce large quantities of dysprosium and terbium, two of the most valuable heavy rare earth elements used in permanent magnets for electric car batteries and wind turbines.
In 2022, Namibia signed an agreement to supply rare earth minerals to the European Union.