The Northern Territory Government has signed two memorandum of understanding’s (MoU) with the Japan Organisation for Metals and Energy Security (JOGMEC) in a bid to strengthen economic and strategic trade ties between Australia and Japan.
Collaboration between both parties will be facilitated through the exploration, extraction, processing and supply of NT critical minerals such as nickel, cobalt, lithium, graphite and rare earth elements.
The first MoU establishes a framework for cooperation in energy sectors such as natural gas, carbon capture and storage and hydrogen production. It was signed by NT Chief Minister Eva Lawler and JOGMEC executive vice president Hiroyuki MORI.
“My Government is driving the Territory’s economy and strengthen our partnerships with Japan so we can continue to implement more cost of living initiatives for Territorians,” Lawler said.
“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 second MoU focuses on greater collaboration within critical mineral supply chains and was signed by NT Mining Minister Mark Monaghan and JOGMEC executive vice president Hiroshi KUBOTA.
“The Northern Territory is rich in critical minerals essential for the global energy transition,” Monaghan said. “This agreement with JOGMEC will enhance our capacity to develop these resources responsibly and efficiently, benefiting 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.”
In April, the NT Government signed a MoU with the South Korean Government via the Korea Mine Rehabilitation and Minerals Resources Corporation to establish a comprehensive framework for cooperation based on mutual benefit for NT and South Korea.