Japan, Western Australia eye greater cooperation in minerals, energy

The Japan Bank for International Cooperation (JBIC) has signed a memorandum of understanding (MoU) with Western Australia to build a comprehensive strategic partnership in the minerals and energy sectors, it said on January 26.

The areas of cooperation between the two parties include minerals and energy resources such as iron ore and natural gas, renewable energy power generation, critical minerals, hydrogen, ammonia, and CCUS.

“Given the geographical proximity to Japan, Australia is an important partner for supply chain resilience, and Japanese companies are considering participating in businesses including new projects in the abovementioned fields in Western Australia,” JBIC said.

The latest MoU is a developmental outcome of the previous MoU that JBIC signed with the state of Western Australia in November 2011.