Northern Territory signs two MoU’s with JOGMEC

The Northern Territory Government has signed two Memorandum of Understanding’s (MoU) with Japan Organisation for Metals and Energy Security (JOGMEC).

The MoU’s strengthen economic and strategic trade ties between the Northern Territory and Japan, ties which underscored $7.7b worth of goods exported from the Northern Territory to Japan in 2022/23.

Northern Territory Chief Minister Eva Lawler commented on the MoU’s.

“By strengthening our collaboration with key trading partners like Japan, we are bolstering the Northern Territory’s emerging critical minerals sector and creating more working opportunities for people across the Northern Territory.”

The first MoU, signed by Ms Lawler and JOGMEC executive vice president Hiroshi Kubota, establishes a framework for cooperation in various energy sectors, including natural gas, carbon capture and storage and hydrogen production.

The second MoU, signed by Northern Territory Mining Minister Mark Monaghan and Mr Kubota, focuses on greater collaboration with critical mineral supply chains.

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

Mr Monaghan says the MoU’s will be beneficial to both the Northern Territory and Japan.

“The Northern Territory is rich in critical minerals essential for the global energy transition,” he said.

“This agreement with JOGMEC will enhance our capacity to develop these resources responsibly and efficiently, benefiting both our economies.

“The Northern Territory has a strong pipeline of emerging mining projects and is well positioned to be a reliable partner to Japan long into the future.”

Both the MoU’s highlight the strategic importance the Northern Territory will play in the transition to renewables and critical minerals supply chains both domestically and internationally.