Danantara, Perminas partner NEM on Gabon rare earth project

Danantara and state rare earth miner PT Perusahaan Mineral Nasional (Perminas), have signed a memorandum of understanding with New Energy Metals Holdings Ltd to develop an integrated rare earth and niobium supply chain spanning Gabon and Indonesia.

The agreement, signed on Monday, covers evaluation of niobium and rare earth resources at the Maboumine project in Gabon and downstream processing initiatives in Indonesia, the companies said in a statement on Tuesday.

Danantara Chief Executive Rosan Roeslani said the partnership is aimed at securing access to strategic raw materials and converting them into competitive downstream products.

Under the framework, Indonesia is expected to serve as a downstream processing and manufacturing hub, covering activities from separation and refining to metal production and high performance permanent magnet manufacturing.

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Perminas President Director Gilarsi Wahju Setijono said the agreement provides a structured pathway to link upstream resource potential with downstream value creation, in line with Indonesia’s industrialisation strategy.

Strategic materials including niobium and rare earth elements such as neodymium and praseodymium are key inputs for permanent magnets used in electric vehicles, wind turbines and advanced defence applications.

The parties have formed a joint working group to accelerate project implementation. Fast track negotiations on potential financing and strategic investment are also set to begin.

Danantara and Perminas said they are open to equity and debt participation in the Maboumine mine and related project entities as part of efforts to integrate the value chain.

Editing by Alexander Ginting