Japan’s Itochu Corporation and the Japan Organization for Metals and Energy Security (JOGMEC) are investing to support the expansion of a platinum mine in South Africa, as part of efforts to secure stable supplies of critical minerals, according to Reuters.
The investment will help fund the development and scaling of operations at the mine, which produces platinum group metals essential for automotive catalytic converters, hydrogen technologies, and clean energy systems. The move reflects Japan’s broader strategy to diversify supply chains for key industrial resources.
South Africa, the world’s largest producer of platinum, remains a critical source of these metals, and the project is expected to enhance production capacity while supporting local economic activity and job creation.
The deal highlights growing international competition for strategic minerals, as countries and corporations seek to secure inputs needed for the global energy transition and advanced manufacturing industries.
