Japan to Invest in African, Bolivian Mines Post Regulatory Revision

9 June 2010 (Last Updated June 9th, 2010 18:30)

Japan is planning to invest in African and Bolivian mines after changes in the country's laws that will allow domestic companies to acquire overseas mining rights from 1 July. State-owned Japan Oil, Gas and Mineral (JOGMEC) plans to invest JPY27.5bn ($300m) this fiscal year. JOG

Japan is planning to invest in African and Bolivian mines after changes in the country's laws that will allow domestic companies to acquire overseas mining rights from 1 July.

State-owned Japan Oil, Gas and Mineral (JOGMEC) plans to invest JPY27.5bn ($300m) this fiscal year.

JOGMEC is looking to invest in platinum and nickel mining in Africa and lithium mining in Bolivia.

The revised law will also enable Japanese mining companies to invest in mines that are already in production.

Under the current law, companies can invest only in metal and mineral exploration projects.

The overseas mining acquisition will ensure stable raw material supplies for Japanese auto and electronics industries, according to businessesweek.com.