Gabon turns to UAE-backed investors and Chinese engineering giant to revive $2 billion rare earth project and develop one of the world’s largest niobium deposits

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 published on the Gabonese presidency’s Facebook page.

The proposed development is expected to create more than 2,500 direct jobs and include mineral processing facilities within Gabon, allowing the country to capture more value from its natural resources rather than relying solely on raw mineral exports.

Construction is scheduled to begin in 2027, although details of the project’s financing arrangements and the respective responsibilities of NEM and ENFI have not been disclosed.

Located about 200 kilometres southeast of Libreville, Gabon’s capital, Mabounié has been explored for years but has yet to reach commercial production. Its revival would mark a significant step in the country’s efforts to turn its mineral resources into a larger source of economic growth.

Gabon courts foreign investment

The proposed development comes as Libreville seeks to attract international partners to finance major infrastructure and industrial projects. In June, Gabon signed a $3.8 billion memorandum of understanding with the African Export-Import Bank (Afreximbank) to support national development initiatives across mining, energy and transport.

Its engagement with China has also gained momentum. Last week, Gabon and China agreed to deepen cooperation in mining, security, trade, education and public health following Nguema’s meeting with Chinese President Xi Jinping in Beijing.

Mining featured prominently in the renewed partnership, with Beijing pledging to help Gabon turn its natural resource advantages into drivers of economic development.

The proposed Mabounié investment could give that ambition a more concrete expression, combining Emirati-backed capital and Chinese engineering expertise to develop one of Gabon’s long-awaited mineral projects.

Source: Africabusinessinsider