The Lawler Labor Government is driving economic development through our thriving critical minerals industry.
Two Memorandum of Understanding's (MoU) have been signed with 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 Lawler Labor 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.
Quotes attributed to Chief Minister, Eva Lawler:
"My Government is driving the Territory's economy and strengthen our partnerships with Japan so we can continue to implement more cost of living initiatives for Territorians.
"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."
Quotes attributed to Minister for Mining, Mark Monaghan:
"The Northern Territory is rich in critical minerals essential for the global energy transition. 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 partners to Japan long into the future."
Northern Territory Government
