off-the-wire

Indonesia, Gabon sign MoU on rare earth value chain development

Kitco Media
By Reuters
Published:
Updated:
Reuters
Indonesia, Gabon sign MoU on rare earth value chain development teaser image

Indonesia’s state mining company PT Perusahaan Mineral Nasional (Perminas) and Gabon’s New Energy Metals Holdings Ltd (NEM) signed a memorandum of understanding in the rare earth sector, sovereign fund Danantara Indonesia said in a statement on Tuesday.

Perminas and NEM to evaluate potential strategic partnership under the MoU.

The potential partnership will be linked to Maboumine niobium and rare earth elements resources in Gabon.

The potential partnership will also cover the development of a rare earth value chain downstream industry in Indonesia.

A joint working group will assess the feasibility of mining the rare earth elements down to magnet manufacturing.

(By Fransiska Nangoy; Editing by Susan Fenton)

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