Major critical Minerals and Energy MoU signed

Left: Minister for Mining, Mark Monaghan
Right: Chief Minister, Eva Lawler

Two Memorandum of Understanding’s (MoU) have been signed between the Northern Territory Government and Japanese energy giant, Japan Organisation for Metals and Energy Security (JOCMEC).

The MoU’s signed with JOCMEC strengthen economic and strategic trade ties between the Territory Government and Japan, ties which underscored $7.7 billion worth of goods exported from the NT to Japan in 2022/23 alone.

The first MoU, signed by the Chief Minister and Mr. Hiroyuki MORI, Executive Vice President of JOGMEC, establishes a framework for cooperation in various energy sectors including natural gas, carbon capture and storage and hydrogen production.

The second MoU signed by Minister Mark Monaghan and Mr. Hiroshi KUBOTA, Executive Vice President of JOGMEC, focuses on greater collaboration with critical mineral supply chains.

This collaboration will be facilitated through the exploration, extraction, processing and supply of critical minerals such as nickel, cobalt, lithium, graphite and rare earth elements.

These signing’s highlight the strategic importance of the Northern Territory will play in the transition to renewables and critical minerals supply chains both domestically and internationally, with this sector currently worth $4.38 billion and employs over 5300 Territorians.

Left is Mr. Hiroshi Kubota, Executive Vice President of Metals Unit,
Right is Mr. Hiroyuki Mori, Executive Vice President, Member of the Board, and in the middle is their President, Mr. Michio Daito as a witness.