Yomiuri: Toyota Tsusho Joins Rare Earth Development Project in Namibia

Dow Jones03-19 17:56

By Shuntaro Murase / Yomiuri Shimbun Staff Writer

Toyota Tsusho Corp. will take part in a rare earth development project in Namibia, the major Japanese trading house announced on Wednesday.

Research in the country by the Japan Organization for Metals and Energy Security (JOGMEC) confirmed the presence of rare metal elements such as dysprosium, which are used in electric vehicle motors.

Toyota Tsusho aims to make a decision on commercialization within fiscal 2026, which starts in April.

JOGMEC has been developing a mine in northern Namibia together with a Canadian company since 2020. Toyota Tsusho will take over part of JOGMEC's involvement in the project, with an aim to supply rare earth elements to Japan.

China dominates mining and refining of critical minerals, including rare earth elements, making diversifying supply sources a challenge for Japan from the perspective of economic security.

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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.

YDN-M0000188137-1

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March 19, 2026 05:56 ET (09:56 GMT)

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