Mongolian National Rare Earth Corporation (MNREC) and Japan Organization for Metals and Energy Security (JOGMEC) have embarked on a groundbreaking partnership to propel the Khalzan Buregtei (KB) rare earth project by signing a non-binding Memorandum of Understanding (MOU) on 10 September 2024. The MOU coincides with the completion of the KB’s Pre-Feasibility Study (PFS) which is expected by the end of September 2024. This alliance signals a major leap forward in securing critical resources and boosting investment in Mongolia’s burgeoning rare earth sector.
Partnership Unveiled
Insight Exchange: MNREC and JOGMEC will synchronize their expertise to refine mining strategies and enhance project management for the KB rare earth deposit, laying a solid foundation for success.
Investor Empowerment: JOGMEC's involvement will provide vital support to KB to attract investors, especially from Japan, fortifying the project's viability and accelerating its development.
Khalzan Buregtei Rare Earth Project
Nestled in the rugged terrain of Khovd Province’s Myangad sum, KB is home to a treasure trove of rare earth elements (REE). This remote site promises to be a cornerstone for the rare earth industry, essential for cutting-edge technology and sustainable solutions. KB is the only NI 43-101-compliant PFS stage REE project in Mongolia. MNREC plans to advance it into the Definitive Feasibility Study by mid-October 2024, with completion expected in the first quarter of 2026.
About JOGMEC
Established on February 29, 2004, JOGMEC integrates the functions of the former Japan National Oil Corporation, which was in charge of securing a stable supply of oil and natural gas, and the former Metal Mining Agency of Japan, which was in charge of ensuring a stable supply of nonferrous metal and mineral resources and implementing mine pollution control measures.
Why JOGMEC Matters
JOGMEC is indispensable for Japan’s energy and resource strategy, playing a pivotal role in diversifying energy supplies, managing essential metal resources, and advancing environmental sustainability. MNREC’s new partnership brings a significant step toward Mongolia’s ambition to diversify its mining output by producing and exporting value-added mixed rare earth oxides, advancing Mongolia’s position in the global mining industry.
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