Toyota Tsusho Advances C$23 Million Lofdal Rare Earth Deal as Japan Secures Strategic Supply Options

Highlights

• Toyota Tsusho and JOGMEC satisfied the C$23 million expenditure requirement to earn a combined 50% interest in Namibia's Lofdal heavy rare earth project.
• JOGMEC holds first-refusal rights on project financing and future production, targeting dysprosium, terbium, and yttrium supply outside China.
• The project remains preproduction with no confirmed final investment decision, and a commercially validated processing pathway has yet to be established.
• JOGMEC committed up to C$47.668 million to the Japanese joint venture, with default conditions that could reduce ownership or convert stakes to a 1% royalty.