No completed purchase was announced. On 26 November 2010, Toshiba and Mongolia’s MNFCC LLC signed a memorandum of understanding (MOU) to start discussions about possible cooperation in mineral resources and social infrastructure. Rare earths were among several resource categories named, but Toshiba did not announce a mine, purchase agreement, delivery schedule, or quantities.
What Toshiba and MNFCC agreed to discuss
Toshiba’s announcement described an exploratory MOU, not a completed sourcing deal. The parties would initiate discussions on possible cooperation involving Mongolia’s mineral resources—including uranium, rare earths and rare metals—and social infrastructure. Toshiba said it would seek a mutually beneficial cooperative relationship with MNFCC. Toshiba’s 26 November 2010 announcement sets out the agreement’s scope.
For infrastructure, Toshiba said it would conduct feasibility studies covering thermal, nuclear and solar photovoltaic power systems, as well as transmission and distribution networks. For minerals, the company described an aim to promote mutual development to help secure stable supply. That stated objective did not amount to a documented purchase or commitment to take delivery.
What “to source” means in the headline
The contemporary headline, “Toshiba to source rare-earths from Mongolia,” can sound like a supply arrangement was already in place. The announcement itself is more limited: Toshiba and MNFCC agreed to begin talks about possible cooperation. It identifies no particular rare-earth elements, mine, investment amount, price, purchase volume, or delivery terms. EE Times’ contemporaneous report also described the MOU and discussions, rather than reporting delivered material.
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That distinction matters: an exploratory MOU is not the same as a binding offtake or purchase agreement; proposed feasibility studies are not an operating mine; and an ambition to support stable supply is not evidence of quantities delivered. The available announcements establish the MOU, not a completed sourcing transaction.
Did the MOU lead to a Mongolian supply deal?
The sources reviewed do not establish that the Toshiba–MNFCC MOU resulted in a mine, binding offtake agreement, or Mongolian rare earths supplied to Toshiba. That does not prove that no later activity occurred; it means the cited material does not document such an outcome.
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Toshiba’s 2011 announcement of a rare-metals joint venture with Kazatomprom concerns Kazakhstan, not Mongolia, and does not demonstrate follow-through on the MNFCC MOU. Likewise, current information from Mongolian National Rare Earth Corp (MNREC) about its Khalzan Buregtei project describes a separate project and does not connect it to Toshiba or MNFCC.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What Toshiba actually said about its aims
In its 26 November 2010 company release, Toshiba said it would “conduct feasibility studies on key social infrastructure essential for securing Mongolia’s continued economic growth, including thermal, nuclear and solar photovoltaic power systems and transmission and distribution networks and will seek to promote mutual development of mineral resources in an effort to secure stable supply.” This is a corporate statement, not a quotation attributed to a named spokesperson.
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