Japanese state-owned energy agency Jogmec will join Canadian mining company Hudbay Minerals and Japanese trading house Marubeni on a non-ferrous metals exploration project in Manitoba, Canada, the agency said today.
Jogmec signed an agreement with project operator Hudbay and Marubeni in December 2025 to participate in the non-ferrous metal exploration in Flin Flon, Manitoba. Jogmec will pay C$6mn ($4.3mn) for the exploration over three years over 2026-28. Jogmec will then acquire an option to obtain a 10pc stake in the mining area and form a joint venture with Hudbay and Marubeni, once it completes the payment.
The mining area in Flin Flon consists of multiple sections totalling 5,000 hectares (50km²). It potentially has new mineral deposits such as copper, zinc, lead, gold and silver. Jogmec plans to co-operate with Hudbay and Marubeni to conduct geological and drilling surveys to find new non-ferrous metal deposits.
Jogmec and Marubeni expect demand for non-ferrous metals, particularly for copper, to increase further because of accelerating electrification, an increase in electric vehicles, the expansion of renewable power generation and a rise in data centres for artificial intelligence. Jogmec is concerned about a possible shortage of copper supplies to Japan.
Jogmec, Hudbay and Marubeni aim to conduct research on the underground structure and evaluate metal quality in 2026. Marubeni declined to disclose detailed timelines for the subsequent years.
Marubeni and Hudbay began their joint exploration in Flin Flon in 2024. Marubeni also agreed with Hudbay to pay C$12mn over five years, over 2024-28, for an option to own a 20pc stake in the project.
Jogmec has attempted to improve Japan's supply security of non-ferrous metals. The agency has also explored an awaruite nickel mine in Newfoundland and Labrador, Canada, with Canadian mining firm FPX Nickel.
