The Northern Territory (NT) Government in Australia has signed two memorandums of understanding (MOUs) with the Japan Organisation for Metals and Energy Security (JOGMEC) to bolster critical minerals and energy cooperation.
These MOUs are also intended to strengthen economic and strategic trade ties between the two markets.
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The first MOU lays out a cooperative framework across various energy sectors including natural gas, carbon capture and storage, and hydrogen production.
The second MOU is committed to fostering collaboration within critical mineral supply chains.
This partnership will promote joint efforts in the exploration, extraction, processing and supply of essential minerals such as nickel, cobalt, lithium, graphite and rare earth elements.
NT Chief Minister Eva Lawler said: “My government is driving the Territory’s economy and strengthen[ing] our partnerships with Japan so we can continue to implement more cost of living initiatives for Territorians.
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By GlobalData“By strengthening our collaboration with key trading partners like Japan, we are bolstering the Northern Territory’s emerging critical minerals sector and creating more working opportunities for people across the Northern Territory.”
The agreements underscore the NT’s strategic significance in the shift towards renewable energy and critical mineral supply chains, both domestically and internationally.
NT Mining Minister Mark Monaghan said: “The Northern Territory is rich in critical minerals essential for the global energy transition. This agreement with JOGMEC will enhance our capacity to develop these resources responsibly and efficiently, benefitting both our economies.
“The Northern Territory has a strong pipeline of emerging mining projects and is well positioned to be a reliable partner to Japan long into the future.”
Last year, FPX Nickel and Japanese companies JOGMEC and Prime Planet Energy & Solutions (PPES) entered an MOU to improve the battery metal supply chain with a reduced environmental footprint.
