Toyota Tsusho and JOGMEC form joint venture for Namibia project
Toyota Tsusho formed a joint venture with JOGMEC to develop heavy rare earths at the Lofdal project in Namibia, targeting a commercialization decision in FY2026.
JOGMEC will invest up to CAD 47.67 million in project vehicle TJ Namibia Rare Earths; initial investment completed on July 23, 2026.
The partners will run a definitive feasibility study, aiming to secure supply of dysprosium, terbium for permanent magnets used in auto motors.
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