TOKYO (AFP) – Resource-poor Japan has obtained rights to develop platinum mines in South Africa and Botswana in a bid to ensure a stable supply of the metal, officials said on Friday.
The government-backed Japan Oil, Gas and Metals National Corp. (JOGMEC) has signed a contract with Discovery Metals in Australia to jointly develop nickel and platinum mines in northeast Botswana, it said in a statement.
It has inked another deal with Canadian firm Platinum Group Metals to explore for platinum in South Africa.
It will pay three million Australian dollars (2.7 million US dollars) to Discovery Metals over three years for exploration costs, in return for 60 percent of the rights to the metals.
JOGMEC will pay 3.2 million US dollars to Platinum Group Metals over four years for a 37 percent share, it said in a statement.
Japan has in recent years worked to strengthen ties with African countries to ensure supplies of resources including precious metals.
