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View all search resultsNew state miner Perminas signs MoU on Gabon rare earth project
PT Perusahaan Mineral Nasional and Danantara may also enter negotiations for equity or debt participation in the Maboumine project, according to a statement, though no value or timeline has been disclosed.
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An excavator is used on July 28, 2023, to move soil to trucks at a nickel mine operated by mining company Vale Indonesia in Sorowako, South Sulawesi. (AFP/Hariandi Hafid)
T
he country’s newly established state-owned minerals company, PT Perusahaan Mineral Nasional (Perminas), has signed a memorandum of understanding (MoU) with Abu Dhabi-based New Energy Metals (NEM) to explore cooperation on rare earth elements and potential investment in a mine in Gabon.
The nonbinding agreement would give Indonesia access to the Maboumine polymetallic deposit in the central African country, operated by NEM subsidiary Dusk Gabon, and open the door to downstream processing and manufacturing of rare earth products in Indonesia, said state asset fund Danantara, which oversees state-owned enterprises.
Perminas and Danantara may also enter negotiations for equity or debt participation in the Maboumine project, the statement said, though no financial value or timeline was disclosed.
“This MoU creates a structured pathway to assess opportunities that link upstream resource potential with downstream value creation, consistent with strong governance and long-term national priorities,” Perminas president director Gilarsi Wahju Setijono said in a statement.
Read also: Government maps rare earth reserves for industry goals
The companies will exchange data and evaluate potential integration between Gabon’s upstream resources and Indonesia’s industrial base.
Under the MoU, the parties will assess cooperation spanning upstream resource development and downstream activities, including rare earth separation, refining, alloy production and permanent magnet manufacturing, Danantara said.
