Toyota Tsusho partners with JOGMEC for heavy rare earth project in Namibia

Namibia Critical Metals

18/03/2026 06:33

TOKYO, March 18 (Reuters) - Japan's Toyota Tsusho 8015.T said on Wednesday it would partner with the Japan Organization of Metals and Energy Security (JOGMEC) in a project to develop heavy rare earths in Namibia.

JOGMEC, in partnership with Canada-listed Namibia Critical Metals NMI.V, is developing the Lofdal project in Namibia which contains heavy rare earths including dysprosium and terbium.

In January, JOGMEC prepared a preliminary feasibility assessment for the project.

Toyota Tsusho will partner with JOGMEC for a feasibility study to ensure a stable supply to Japan in the future.

A final decision on whether the project may be commercially viable is expected to be made by the end of fiscal year 2026, Toyota Tsusho said.

 (Reporting by Katya Golubkova; Editing by Jamie Freed)

 ((jekaterina.golubkova@thomsonreuters.com;))