TJ Namibia Rare Earths Corporation (special purpose company established by Toyota Tsusho)
Lofdal heavy rare earth development project
fin-jp-jogmec-lofdal-2026-equity
Reading this record
What the evidence says — and does not say
- What kind of figure?
- CommitmentMoney, or a money-like promise, committed to a named recipient or project. The only role ever summed.
- What has happened legally?
- Partially disbursedSome of the money has been paid out.
- Has money been paid?
- Follow the payment evidenceThe source-linked current status records partial payment. It does not establish that the full stated amount was paid or that construction occurred.
- What does it link to?
- Project attributionOne registered project is linked directly to this row. The link alone does not prove the amount was paid or that the project advanced.
This is a commitment role, but the financial status still determines legal standing and payment. Funding and verified industrial outcomes remain separate. A financial record alone never independently verifies construction, commissioning or production. Read SMPT's counting and evidence rules.
Amount
As stated “up to 47.668 million Canadian dollars (approximately 5.5 billion yen)”
CAD 47,668,000 · Up to · Currency stated in the source
Record
- Provider
- Japan Organization for Metals and Energy Security (JOGMEC)Japan Organization for Metals and Energy Security (JOGMEC)Government body
- Legal authority
- Not stated
- Programme
- None named
- Recipient
- TJ Namibia Rare Earths Corporation (special purpose company established by Toyota Tsusho)TJ Namibia Rare Earths CorporationProject company
- Project
- Lofdal heavy rare earth development projectLofdal heavy rare earth development project capital stack →
- Facility
- Not stated
- Location
- the Lofdal area of the Kunene Region, Republic of NamibiaNA
- Stages
- Exploration, MiningSeveral stages, split not stated
- Materials
- Rare earth elements (grouped)DysprosiumTerbiumTracked materials only
Status
Financial and physical progress are separate histories. The last entry is current.
Financial
- Decided
"JOGMEC has decided to invest up to 47.668 million Canadian dollars"; the decision date is not stated.
Japan Organization for Metals and Energy Security (JOGMEC) / Toyota Tsusho Corporation
- Partially disbursedcurrent
"The initial investment was made on July 23, 2026."
Japan Organization for Metals and Energy Security (JOGMEC) / Toyota Tsusho Corporation
Implementation
- Feasibilitycurrent
A Definitive Feasibility Study is being conducted through TJ.
Japan Organization for Metals and Energy Security (JOGMEC) / Toyota Tsusho Corporation
Stated outcomes
Who says it matters: a company target is not a government commitment.
“JOGMEC and Toyota Tsusho ... aim to make a final decision on commercialization during FY2026.”
Joint statement by JOGMEC and Toyota Tsusho; Japanese FY2026 runs April 2026 to March 2027.
Japan Organization for Metals and Energy Security (JOGMEC) / Toyota Tsusho Corporation
Notes
The amount is in Canadian dollars in both the Japanese and English releases; the yen figure is an approximation given in the release (約54.6億円 in the Japanese text, "approximately 5.5 billion yen" in English) and is not recorded as a separate amount. Lifecycle review on 3 October 2026 retains partially_disbursed financial status: the initial SPC investment occurred on 23 July, but the initial investment amount is not disclosed. Namibia Critical Metals' completed C$23 million earn-in and approximately C$11 million expanded DFS budget are separate from JOGMEC's up-to-C$47.668 million SPC equity commitment; neither is coded as a paid amount against it. The recipient's 30 July release confirms ongoing DFS execution, including pilot-scale work and engineering, while its 31 August update says the underlying project-interest transaction still requires shareholder consent and regulatory approvals. Those transaction conditions do not negate the initial SPC investment. Feasibility remains the physical status, with its actual start date unknown; the reviewed sources do not establish commercial mine construction, operation or a completed final investment decision. The FY2026 commercialization decision remains a target.
Evidence
Every populated field names the source that states it, how directly, and where.
Japan Organization for Metals and Energy Security (JOGMEC) / Toyota Tsusho Corporation
- Fields supported
- Instrument · Value role · Capital source · Amount · Provider · Recipient · Project · Location · Materials · Status · Outcomes
- Evidence level
- Explicit
- Location in document
- Second to fourth paragraphs
ナミビア共和国におけるレアアース探査・開発事業を行う特定目的会社の設立およびJOGMECの出資について
独立行政法人エネルギー・金属鉱物資源機構 (JOGMEC) / 豊田通商株式会社
- Fields supported
- Supply-chain stages
- Evidence level
- Explicit
- Location in document
- Title
- Qualification
- The Japanese title describes the SPC's business as レアアース探査・開発事業 (rare earth exploration and development).
Namibia Critical Metals Inc.
- Fields supported
- Amount · Project · Status
- Evidence level
- Explicit
- Location in document
- Page 1, investment paragraphs; page 2, Advancing a Strategic Heavy Rare Earth Supply Chain
- Qualification
- The project company corroborates JOGMEC's up-to-CAD-47.668-million SPC investment and the initial investment on 23 July, without disclosing the paid amount. Its completed CAD 23 million earn-in and approximately CAD 11 million expanded DFS budget are distinct figures, not payments measured against this equity commitment. The DFS includes pilot-scale metallurgical work, separation testwork, engineering, permitting and mine planning; it is not a construction or operating milestone.
Namibia Critical Metals Provides Update on Lofdal Joint Venture Transaction
Namibia Critical Metals Inc.
- Fields supported
- Project
- Evidence level
- Explicit
- Location in document
- Page 1, opening transaction-update paragraphs
- Qualification
- The underlying project-interest transaction still requires shareholder consent and regulatory approvals, including final TSX Venture Exchange approval. These conditions concern implementation of that transaction and do not reverse JOGMEC's disclosed initial capitalization of TJ.
| Source | Fields supported | Evidence level | Location |
|---|---|---|---|
| Establishment of a Special Purpose Company for Heavy Rare Earth Development in the Republic of Namibia and Investment by JOGMEC Japan Organization for Metals and Energy Security (JOGMEC) / Toyota Tsusho Corporation · Source dossier |
| Explicit | Second to fourth paragraphs |
| ナミビア共和国におけるレアアース探査・開発事業を行う特定目的会社の設立およびJOGMECの出資について 独立行政法人エネルギー・金属鉱物資源機構 (JOGMEC) / 豊田通商株式会社 · Source dossier |
| Explicit The Japanese title describes the SPC's business as レアアース探査・開発事業 (rare earth exploration and development). | Title |
| Namibia Critical Metals Announces Completion of Japan’s C$23 Million Earn-In and Formation of Strategic Joint Venture Company for the Lofdal Heavy Rare Earth Project Namibia Critical Metals Inc. · Source dossier |
| Explicit The project company corroborates JOGMEC's up-to-CAD-47.668-million SPC investment and the initial investment on 23 July, without disclosing the paid amount. Its completed CAD 23 million earn-in and approximately CAD 11 million expanded DFS budget are distinct figures, not payments measured against this equity commitment. The DFS includes pilot-scale metallurgical work, separation testwork, engineering, permitting and mine planning; it is not a construction or operating milestone. | Page 1, investment paragraphs; page 2, Advancing a Strategic Heavy Rare Earth Supply Chain |
| Namibia Critical Metals Provides Update on Lofdal Joint Venture Transaction Namibia Critical Metals Inc. · Source dossier |
| Explicit The underlying project-interest transaction still requires shareholder consent and regulatory approvals, including final TSX Venture Exchange approval. These conditions concern implementation of that transaction and do not reverse JOGMEC's disclosed initial capitalization of TJ. | Page 1, opening transaction-update paragraphs |