Gabon seeks $2 billion to revive Mabounie rare earths project
Mabounié has been prospected for years but hasn’t reached commercial production.
Stock image.
Gabon is looking to revive its long-stalled Mabounié niobium and rare-earth project through a proposed $2 billion development involving Emirati-backed New Energy Metals and the Chinese engineering group ENFI.
New Energy Metals and its subsidiary Dusk Gabon presented a technical study for the project to President Brice Clotaire Oligui Nguema during his visit to Beijing last week, according to a statement on the presidency’s Facebook page.
If it goes ahead, the development is expected to create more than 2,500 direct jobs and include processing facilities in the Central African country. Construction is scheduled to start in 2027.
Mabounié, about 200 km (124 miles) southeast of Gabon’s capital of Libreville, has been prospected for years but hasn’t reached commercial production. The statement didn’t add any details on how the project would be financed or on the respective roles of NEM and ENFI.
(By Katarina Höije)
Tungrok Mining like to do business
“include processing facilities” – to MREC or through to oxides? How much of the downstream does Gabon want/will China allow? GLTA – REI