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#JustIn: Japan eyes Namibia’s critical minerals

Jo-Maré Duddy
Namibia is one of three African countries Japan wants to work with to establish supply chains for critical minerals, needed for the production of electric vehicle (EV) batteries. Japan's minister for economy, trade and industry, Nishimura Yasutoshi, has included Namibia in his eight-day tour of Africa that will end 13 August, according to Nikkei Asia. The signing of the memorandum of understanding and other agreements will coincide with the itinerary, the website stated. Nishimura also met with mines and energy minister Tom Alweendo in Japan in April this year. During the meeting, Nishimura spoke to Alweendo about the importance of Namibia's mineral resources and hydrogen, and he expressed deepen bilateral cooperation in the mining and other fields, according to the website of Japan’s ministry of economy, trade and industry. Critical minerals include copper, lithium, nickel, cobalt and rare earth elements. According to Nikkei Asia and MotormouthArabia, Japan wants to partner with Namibia, Zambia and the Democratic Republic of Congo (DRC). As part of the initiative, Tokyo plans to expand joint exploration activities in each country. This joint exploration is expected to commence within the year, according to motormoutharabia.com Nikkei Asia said: “For Namibia, Japan will agree to a work plan with Epangelo, Namibia's state-owned mining company, looking to reinforce the supply chain for rare earths and other minerals. “Though Namibia is rich in zinc, copper and other resources, its supply chain remains underdeveloped. Yet Namibia has a large port that places the country in the running to be a major African export hub. “Japan seeks to become involved in developing African mines at an early stage with the goal of importing resources from the region. Tokyo will deepen relations with the three countries with an eye toward building an African supply chain capable of extracting, refining and transporting critical minerals.”

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Namibian Sun 2024-05-18

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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 414.72/OZ UP +1.55% | Copper US$ 5.04/lb UP +4.12% | Zinc US$ 3 059.30/T UP 0.11% | Brent Crude Oil US$ 84.28/BBP UP +0.60% | Platinum US$ 1 084.88/OZ UP +2.19%