Japan National Corp Signs Namibia Rare Earth Pact

4 August 2010 (Last Updated August 4th, 2010 18:30)

Japan Oil, Gas and Metals National Corp (JOGMEC) has agreed with Namibia to jointly explore and develop mineral resources in the African country. JOGMEC said it will explore mining fields, including rare earth, and accelerate joint venture projects with private mining firms to help secu

Japan Oil, Gas and Metals National Corp (JOGMEC) has agreed with Namibia to jointly explore and develop mineral resources in the African country.

JOGMEC said it will explore mining fields, including rare earth, and accelerate joint venture projects with private mining firms to help secure stakes in rare metal resources.

The company will send engineers to Namibia next month to help develop technology to remotely sensor and analyse potential mines, according to Reuters.

A similar agreement was made earlier this month with Kazakhstan as JOGMEG arranges procurement for resources amid growing demand.