October 5, 2017
Japan Oil, Gas and Metals National Corporation (JOGMEC) and the State Government of New South Wales (“NSW”) signed a Memorandum of Understanding (“MOU”) on September 20th, 2017 for bilateral cooperation on natural resources exploration and development.
NSW State is the largest state economy in Australia with a capital city in Sydney. Japan maintains a strong relationship with the State for many decades as the largest destination of mineral exports for very important natural resources such as coal, copper, aluminum, and refined petroleum.
Therefore in the MOU, JOGMEC and NSW agree to work together in order to encourage Japanese companies to invest in natural resources projects in NSW. With the MOU, NSW will provide more information with respect of state policy for natural resources development and potential investment projects in the State. JOGMEC plans to create more JV deals with natural resources companies in NSW, following recent mineral investments in the Cobar Superbasin Project and the Parkes Project.
In the coal business, given high calorie valued thermal coal from NSW is going to play a bigger role for Japan to seek more efficiency in energy generations, JOGMEC will make the most of the MOU as a platform to communicate and cooperate with NSW going forward.
JOGMEC and the NSW Government representatives have discussed future activities according to the MOU when we participated in the “Australia-Japan Minerals Exploration Investment Seminar 2017” in Tokyo which was held on September 29th and sponsored by the Australian Government.
At the Australian Embassy Tokyo, September 29th 2017 (From left to right) Mr. H. Ikeda – Executive Director, Member of the Board, JOGMEC, Mr. T. Ooka - Director General, Coal Development Department, JOGMEC, Mr. A. Yarrow - Acting Key Account Manager (Coal), NSW Department of Industry Mr. T. Holloway –Counsellor (Resources & Industry), the Australian Embassy Tokyo
Coal Development Division Hayashi
Public Relations Division