ANNOUNCEMENT 02 Jun 2011

On June 2nd, 2011, Japan Oil, Gas and Metals National Corporation (JOGMEC) with the Japanese Sojitz Corporation created the Japan Australia Rare Earths B.V and subsequently invested into Australian Lynas Corporation, Ltd. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

JOGMEC (2018) Japan Australia Rare Earths B.V.
Available
http://www.jogmec.go.jp/disclosure/content/300339333.pdf

More information on Lynas Corporation's Mt. Weld
https://www.lynascorp.com/Pages/Mt-Weld-Concentration-Plant.aspx

Inception date: 02 Jun 2011 | Removal date: open ended

Financial assistance in foreign market

On June 2nd, 2011, Japan Oil, Gas and Metals National Corporation (JOGMEC) invested 20 billion yen (approx. 180 million USD) along with Japanese Sojitz Corporation for the Japan Australia Rare Earths B.V. JOGMEC owns 94% of the Japan Australia Rare Earths B.V and Sojitz Corporation owns the remaining 4%. Utilizing this medium JOGMEC will invest into Lynas Corporation Ltd (<1%), an Australian rare-earths mining company, as well as providing loans in Australian rare earth mining operations.  JOGMEC states that the aim is to supply rare earth minerals to Japan by securing interests of rare earth mines in Mount Weld, Western Australia. 

AFFECTED SECTORS