Lofdal heavy rare earth development project
the Lofdal area of the Kunene Region, Republic of Namibia
prj-na-lofdal
What does the record establish?
The 30 July 2026 recipient release reports ongoing definitive-feasibility execution, including pilot-scale metallurgy, mineral separation testwork, engineering, environmental permitting and mine development planning. The original DFS start date is not stated. The 31 August 2026 update says implementation of the underlying project-interest transaction still requires shareholder consent and regulatory approvals, including final TSX Venture Exchange approval. A completed earn-in expenditure requirement is distinct from completion of that conditional interest transfer, and from JOGMEC's initial investment in TJ. Review on 3 October 2026 did not establish commercial mine construction, operation or a completed final investment decision.
Financial standing
1 directly linked instruments. Recorded financial states: Partially disbursed. A commitment, a payment and a project cost remain separate.
Inspect instruments and termsLegal and policy context
1 parent policy records; 0 project designations. Designation confers standing, not finance. Material and stage overlaps with controls do not establish a restriction on this project.
Read the policy recordsIndustrial evidence
No source-reviewed project milestone is published in this corpus. Financing records may still contain attributed activity reports; this gap does not establish inactivity.
See evidence gapsFinancial evidence and chronology
Each instrument keeps its own financial history. These dates describe financial states, not construction or production. Amounts are the current recorded terms, not historical amounts at every date below.
Equity · Japan Organization for Metals and Energy Security (JOGMEC)up to 47.668 million Canadian dollars (approximately 5.5 billion yen) · Partially disbursed · Commitment
- Provider organizations
- Japan Organization for Metals and Energy Security (JOGMEC)
- Recipient
- TJ Namibia Rare Earths Corporation (special purpose company established by Toyota Tsusho)TJ Namibia Rare Earths Corporation
- Legal authority as stated
- Not stated in this financial record
Exact status date not stated · 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 disbursed
"The initial investment was made on July 23, 2026."
Japan Organization for Metals and Energy Security (JOGMEC) / Toyota Tsusho Corporation
No additional structured terms are recorded. See the full instrument for its evidence and qualifications.
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.
Full financial instrument, conditions and field-level evidenceCapital stack
One layer per value role. Only committed public money, and joint-vehicle money apart from it, is summed, per currency; everything else is listed. There is no total across layers.
Public commitments
1 row · summed per currencyCommitted to a recipient by a government or public enterprise, at the status each row states. A contracted, partially disbursed or disbursed row is binding because an agreement is executed; payment is tracked separately by status. A contracted row need not mean funds are obligated or paid, and a partially disbursed row is not fully paid. Summed per currency and per instrument, never across either; a part is never added to its package.
CAD
Equity1 row
Binding
- Up to
- 47.668 million
1 counted
Source-reviewed industrial observations
No source-reviewed project milestone is published for this undertaking. Any financing-row activity reports below remain attributed observations, not independently reviewed project milestones. Missing evidence does not establish inactivity.
Policy context
These records directly parent the project's finance or designation entries. Their presence does not establish a causal effect on industrial activity.
23 Jul 2026 · Active
Establishment of a Special Purpose Company for Heavy Rare Earth Development in the Republic of Namibia and Investment by JOGMEC
JOGMEC (Japan Organization for Metals and Energy Security), jointly with Toyota Tsusho Corporation
Control clauses on the same materials and stages
Clauses whose covered items share a material and a supply-chain stage with this project, with their legal status on 3 Nov 2026. An overlap of items, not a finding that the project is affected.
Record
- Sponsors
- Japan Organization for Metals and Energy Security (JOGMEC)Government bodyTJ Namibia Rare Earths CorporationProject companyToyota Tsusho CorporationCompany
- Location
- the Lofdal area of the Kunene Region, Republic of NamibiaNA
- Stages
- Exploration, Mining
- Materials
- Rare earth elements (grouped)DysprosiumTerbiumTracked materials only
- Programmes
- None recorded
- Latest financing-row activity report
- FeasibilityDate not statedJapan Organization for Metals and Energy Security (JOGMEC) / Toyota Tsusho Corporation
What remains unknown
Gaps describe the available SMPT record. They do not establish that an activity did not occur.
- No project-native source-reviewed industrial milestone is published. Attributed activity in financing histories remains a separate evidence class; no exact milestone date or facility-wide conclusion is inferred.
- Historical amount review is incomplete. Current amounts cannot be read as a time series of earlier commitments.
- Structural links and shared materials do not demonstrate that a government measure caused an industrial outcome.
Evidence
Every project fact names the source that states it.
Japan Organization for Metals and Energy Security (JOGMEC) / Toyota Tsusho Corporation
- Fields supported
- Name · Sponsors · Location · Materials
- Evidence level
- Explicit
- Location in document
- First to third paragraphs
- Qualification
- "JOGMEC ... and Toyota Tsusho ... are currently advancing a heavy rare earth development project"; TJ is "a special purpose company to carry out the project".
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
- レアアース探査・開発事業 (rare earth exploration and development).
Namibia Critical Metals Inc.
- Fields supported
- Name · Sponsors
- Evidence level
- Explicit
- Location in document
- Page 1, opening transaction and investment paragraphs
- Qualification
- The project company identifies Lofdal, JOGMEC, Toyota Tsusho and the newly established TJNREC. Its 50% participating-interest transfer is expressly subject to prior shareholder and TSX Venture Exchange approval; the release reports ongoing definitive-feasibility work rather than construction.
Namibia Critical Metals Provides Update on Lofdal Joint Venture Transaction
Namibia Critical Metals Inc.
- Fields supported
- Name · Sponsors
- Evidence level
- Explicit
- Location in document
- Page 1, opening transaction-update paragraphs
- Qualification
- The named partners continue to seek shareholder consent and regulatory approvals to implement the project-interest transaction; no completed transfer is asserted.
| 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 "JOGMEC ... and Toyota Tsusho ... are currently advancing a heavy rare earth development project"; TJ is "a special purpose company to carry out the project". | First to third 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 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 identifies Lofdal, JOGMEC, Toyota Tsusho and the newly established TJNREC. Its 50% participating-interest transfer is expressly subject to prior shareholder and TSX Venture Exchange approval; the release reports ongoing definitive-feasibility work rather than construction. | Page 1, opening transaction and investment paragraphs |
| Namibia Critical Metals Provides Update on Lofdal Joint Venture Transaction Namibia Critical Metals Inc. · Source dossier |
| Explicit The named partners continue to seek shareholder consent and regulatory approvals to implement the project-interest transaction; no completed transfer is asserted. | Page 1, opening transaction-update paragraphs |
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