Japan ready to pump N$28b into Namibian mining
The Japanese government stands ready to inject US$1.5 billion (about N$28 billion) in mining activities in Namibia, the country’s trade and industry minister Yasutoshi Nishimura said yesterday.
Namibia and Japan signed several bilateral agreements at State House this week, strengthening investments and trade between the two countries - including an agreement that would allow the Japanese to undertake a survey of Namibia’s rare earth metals.
The minister met and signed agreements with mines minister Tom Alweendo, trade minister Lucia Iipumbu and National Planning Commission director-general Obeth Kandjoze.
“With Mr Alweendo, we discussed basic concepts for expansion, for cooperation in mining in the future. We want to exchange information and conduct technology cooperation, Nishimura said.
“When a Japanese company participates in mining development in Namibia, the Japanese government is ready to provide strong support - including utilising a budget of around US$1.5 billion,” he said.
Alweendo said the Japanese minister’s visit to Namibia is testament that government's outreach to investors is indeed bearing fruit.
Industrialise the economy
“Japan is obviously also interested in critical raw minerals that we all know are very important to sustain energy transitions, and Namibia has some of those metals and minerals. In our discussions, their interest was to get access to that.
“Our interest is to make sure that we make use of this and industrialise this economy and not continue to export them in raw form, but to use them to be able to manufacture and then sell to international markets,” Alweendo said.
He added that when it comes to the green hydrogen strategy Namibia has now, Japan is a key global partner that can make the Namibian strategy even better.
“Not only for the offtake for green hydrogen or ammonia, but equally to be part of the whole value chain of the synthetic fuel strategy that we have.
“It can be in terms of Japanese financing – it is really something that can help us get better,” the minister said.
Iipumbu added that these agreements will improve trade statistics between Namibia and Japan as currently Namibia exports N$90 million worth of goods and services to Japan.
“What we import from Japan is [worth] N$1.4 billion, meaning we need to change [things] around and have an agreement that focuses on sectors where we don’t collaborate at this point.”
Potential collaboration
At the same occasion, Hyphen Hydrogen Energy signed a memorandum of understanding with Itochu Corporation to explore areas for potential collaboration between the two companies to drive sub-Saharan Africa’s largest - and only - fully vertically-integrated green hydrogen project.
Hyphen and Itochu, one of Japan’s largest general trading and investment companies, will now enter into talks on areas of potential collaboration on this landmark project.
[email protected]
Namibia and Japan signed several bilateral agreements at State House this week, strengthening investments and trade between the two countries - including an agreement that would allow the Japanese to undertake a survey of Namibia’s rare earth metals.
The minister met and signed agreements with mines minister Tom Alweendo, trade minister Lucia Iipumbu and National Planning Commission director-general Obeth Kandjoze.
“With Mr Alweendo, we discussed basic concepts for expansion, for cooperation in mining in the future. We want to exchange information and conduct technology cooperation, Nishimura said.
“When a Japanese company participates in mining development in Namibia, the Japanese government is ready to provide strong support - including utilising a budget of around US$1.5 billion,” he said.
Alweendo said the Japanese minister’s visit to Namibia is testament that government's outreach to investors is indeed bearing fruit.
Industrialise the economy
“Japan is obviously also interested in critical raw minerals that we all know are very important to sustain energy transitions, and Namibia has some of those metals and minerals. In our discussions, their interest was to get access to that.
“Our interest is to make sure that we make use of this and industrialise this economy and not continue to export them in raw form, but to use them to be able to manufacture and then sell to international markets,” Alweendo said.
He added that when it comes to the green hydrogen strategy Namibia has now, Japan is a key global partner that can make the Namibian strategy even better.
“Not only for the offtake for green hydrogen or ammonia, but equally to be part of the whole value chain of the synthetic fuel strategy that we have.
“It can be in terms of Japanese financing – it is really something that can help us get better,” the minister said.
Iipumbu added that these agreements will improve trade statistics between Namibia and Japan as currently Namibia exports N$90 million worth of goods and services to Japan.
“What we import from Japan is [worth] N$1.4 billion, meaning we need to change [things] around and have an agreement that focuses on sectors where we don’t collaborate at this point.”
Potential collaboration
At the same occasion, Hyphen Hydrogen Energy signed a memorandum of understanding with Itochu Corporation to explore areas for potential collaboration between the two companies to drive sub-Saharan Africa’s largest - and only - fully vertically-integrated green hydrogen project.
Hyphen and Itochu, one of Japan’s largest general trading and investment companies, will now enter into talks on areas of potential collaboration on this landmark project.
[email protected]
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