The Northern Territory Government has signed two memorandum of understanding’s (MoU) with the Japan Organisation for Metals and Energy Security (JOCMEC), including one to bolster renewable energy cooperation.
The first MoU, signed by Northern Territory Chief Minister, Eva Lawler, and JOGMEC Executive Vice President, Hiroyuki Mori, 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 Minister for Mining, Mark Monaghan, and JOGMEC Executive Vice President, Hiroshi Kubota, focuses on greater collaboration with critical mineral supply chains.
The collaboration is expected to 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.
Ms Lawler said, “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.”
Minister for Mining, Mark Monaghan, said, “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.”
Image credit: TippaPatt/Shutterstock.com.
