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— The cheque: Japan s state metals agency, Jogmec, will put up to C$47.7 million, about US$33.9 million, into a Toyota Tsusho vehicle developing heavy rare earths in Namibia.
— The vehicle: Toyota Tsusho has set up a special-purpose company, TJ Namibia Rare Earths, to run the project.
— The deposit: Lofdal, in Namibia s Kunene region, holds heavy rare earths including dysprosium and terbium.
— What they are for: Both metals go into the permanent magnets that drive electric motors, including in cars.
— A first for Japan: The partners say this could become Japan s first rare earth mine development anywhere in Africa.
— The clock: A feasibility study runs through the new company, with a final decision on commercialisation due by the end of Japan s fiscal year in March 2027.
— Why now: China imposed export controls on some heavy rare earths and magnets in April 2025, and tightened them on shipments to Japan in January and twice in February.
Japan is buying its way into Namibia rare earths, with the state agency Jogmec committing up to US$33.9 million on 30 July to a Toyota Tsusho venture at the Lofdal deposit. If it proceeds, it would be Japan s first rare earth mine development in Africa.
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Jogmec, formally the Japan Organization for Metals and Energy Security, said on Thursday 30 July that it would invest up to C$47.7 million, roughly US$33.9 million, in a Toyota Tsusho unit developing a heavy rare earth deposit in Namibia. The Ecofin Agency reported the same commitment as 5.5 billion yen.
The money goes into TJ Namibia Rare Earths, a special-purpose company Toyota Tsusho created for the project. Jogmec made its first capital contribution on 23 July, a week before the announcement.
The deposit is at Lofdal, in the Kunene region of north-western Namibia. Reuters reported the partners view that it could become Japan s first rare earth mine development on the African continent.
Lofdal is a heavy rare earth deposit, a narrower and more valuable category than the light rare earths that dominate global supply. Its commercially interesting elements include dysprosium and terbium.
Those two metals do an unglamorous but decisive job. They are added to permanent magnets so the magnets hold their strength when they get hot, which is exactly what happens inside an electric motor.