Key Minerals of the African Continent: Gabon Revives Maboumine Project, Attracting Attention from Indonesia's Rare Earth Industry

¬ NEM Signs MOU with Perminas for Gabon's Maboumine Project

¬ Perminas May Acquire Equity in Rare Earth Mine

¬ Project Goal: Annual Production of 18,000 Tons of Rare Earths

The mining company New Energy Metals (NEM), supported by UAE investors, has signed a Memorandum of Understanding (MOU) with Indonesia's state-owned enterprise Perminas to jointly develop the Maboumine rare earth and niobium project in Gabon. This collaboration was announced on Tuesday, February 17, and the Gabonese government is continuously promoting the development of this strategic resource.

This agreement may pave the way for subsequent financing negotiations. According to the agreement, Perminas will hold equity in Maboumine, but specific terms have not been finalized. This move aligns with Indonesia's overall strategy to build a domestic processing chain for critical minerals, making the Gabon project likely to become an important source of rare earth resources.

After being operated by the French Eramet Group for several years, the project was re-entered into Gabon's national management in 2022. Since 2024, it has been operated by NEM's subsidiary Dusk, aiming to restart development work and conduct updated feasibility studies. According to official data from 2023, the mine is expected to produce 14,500 tons of niobium and 18,000 tons of rare earths annually.

Although niobium remains strategically valuable, with global supply mainly controlled by Brazil, the emphasis of this MOU is particularly on rare earths. These 17 metals are crucial for the production of permanent magnets and wind turbines, and they are at the core of the global competition for critical minerals - China dominates the entire value chain from mining to refining.

It remains unclear whether the cooperation between NEM and Perminas can reach a binding agreement, and how this agreement will reshape the Maboumine project. For Gabon, its mining industry still heavily relies on manganese ore, and this long-delayed project could become key to achieving industrial diversification. The country is also advancing the Baniaka iron ore project and seeking to expand local processing capacity, especially for manganese ore, following the Indonesian model.

Source: ecofinagency

Original: toutiao.com/article/1857467541005323/

Disclaimer: This article represents the views of the author themselves.