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Memorandum of Understanding for a Comprehensive and Strategic Partnership with the Government of Western Australia

February 17, 2020

Japan Oil, Gas and Metals National Corporation(Headquarters: Minato-ku, Tokyo; Chairman & CEO: Tetsuhiro Hosono) signed an Memorandum of Understanding for a Comprehensive and Strategic Partnership (hereinafter, " MOU ") with Director General of the Department of Jobs, Tourism, Science and Innovation of the Government of Western Australia, Ms. Rebecca Brown, to strengthen the cooperation in the field of metal and mineral resources in general, on February 6, 2020.
JOGMEC has signed a MOU with the Government of Western Australia (hereinafter, "WA State") and agreed to promote stable supply of mineral resources to Japan and promote investment in WA from Japan. Under the MOU, JOGMEC will actively exchange information and views on metal mineral resources with WA in the future.

WA State and Japan have built close relations. WA State has abundant potential in base metals and critical minerals, and has been supplying mineral resources such as iron ore, nickel ore, and rare earths to Japan for many years. In recent years, Japanese companies are actively entering into metal resources projects in the state.

JOGMEC supports a total of five projects involving Japanese companies (iron ore, lead, rare earth, etc.) in WA (Note1), and we will provide information on the natural resource development policy of WA State, and promote new investment to the metal field in the state. In particular, JOGMEC will continue to work with the WA State Government for the Mt. Weld mine which produces rare earths, for which demand is expected to increase in the future, to ensure stable supply for Japan.

JOGMEC will continue to strengthen its relations with WA State through this MOU for the stable supply of natural resources to Japan.

Signing Ceremony of MOU in the Department of Jobs, Tourism, Science and Innovation of WA State(Left side:Ms. Rebecca Brown, Director General, WA State Right side:Mr. Tetsuhiro Hosono, Chairman & CEO, JOGMEC)

(Note1) JOGMEC support project in WA State
  1. Southdown (iron ore, JOGMEC provides exploration loan)
  2. Abra (lead, JOGMEC provides exploration loan)
  3. Mt Weld (rare earth, JOGMEC provides equity capital and loan)
  4. Burekup South (titanium and zircon, JOGMEC carries out geological survey)
  5. Wheatstone (LNG, JOGMEC provides equity capital and liability guarantee)

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