PERMINAS, New Energy Metals, and Danantara Support Integrated Rare Earth Cooperation Linking Gabon's Upstream with Indonesia's Downstream
Share to
Jakarta/Abu Dhabi/Libreville, 17 February 2026 - PT Perusahaan Mineral Nasional (Persero) (PERMINAS) and New Energy Metals Holdings Ltd (NEM), with the support of Danantara Indonesia as the national strategic management institution, yesterday (16/02) announced the signing of a Memorandum of Understanding (MoU) establishing a framework to evaluate potential strategic collaboration relating to (i) the Maboumine niobium and rare earth elements (REE) resource in the Republic of Gabon and (ii) potential downstream rare earth value chain initiatives in the Republic of Indonesia.
The cooperation reflects a shared commitment to strengthening upstream-downstream integration and building a resilient, globally competitive rare earth supply chain spanning resource development, processing, and advanced manufacturing.
As Indonesia's national strategic investment platform, Danantara Indonesia plays a role in ensuring this cooperation is aligned with the down streaming agenda, the strengthening of critical mineral supply chains, and the development of advanced processing and manufacturing capabilities through potential strategic financing and investment participation alongside PERMINAS, to drive globally competitive upstream-downstream integration.
Rosan Roeslani, Chief Executive Officer of Danantara Indonesia said, "Indonesia's next phase of industrial growth requires resilient access to critical inputs and the capability to convert those inputs into globally competitive downstream products. This cooperation framework is aligned with that ambition and supports the development of strategic, future-facing critical mineral value chains."
Brian Yuliarto, Chairman of the Agency for Mineral Industry (AMI) also added, "This marks a new phase in Indonesia's entry into the critical minerals industry, including rare earth elements. Collaboration with NEM reflects Indonesia's growing industrial capacity and the confidence of international partners in its critical minerals potential. Through this partnership, Indonesia aims to advance domestic industrial development while simultaneously strengthening its participation in global critical minerals markets."
The MoU sets out a framework for the parties to evaluate upstream-downstream linkages, including the potential for Indonesia to serve as a downstream processing, manufacturing, and industrial integration platform, consistent with PERMINAS' mandate, national industrial priorities, and applicable regulations.
Gilarsi Wahju Setijono, President Director (CEO) of PERMINAS, "PERMINAS is committed to advancing Indonesia's strategic objectives in critical minerals and downstream industrialization. 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."
Building resilience in critical rare earth supply chains
Critical materials such as niobium (Nb) and rare earth elements including neodymium (Nd) and praseodymium (Pr), core inputs to high-performance permanent magnets, as well as heavy rare earth elements such as dysprosium and terbium, which enhance magnet performance at elevated temperatures, are increasingly essential to modern industry and national resilience.
These materials are central to electric vehicles (EVs) and broader electrification, renewable energy (including wind turbines and grid infrastructure), advanced aerospace and defense-related applications, as well as a broad range of high-value industrial uses that depend on secure access to critical inputs.
The MoU establishes a Joint Working Group with a mandate to execute a structured, accelerated program of cooperation, including immediate information exchange, joint technical workshops, and coordinated commercial assessments. The parties will progress upstream and downstream development pathways across the rare earth value chain, including separation, refining, metal/alloy production, and permanent magnet manufacturing, with the shared goal of creating an integrated and competitive supply chain from resource to finished magnet products.
Alongside this technical workstream, the parties will commence fast-track negotiations regarding potential strategic financing and investment, including equity and/or debt participation by PERMINAS and/or Danantara Indonesia in the Maboumine mine and related project entities, to capture the full benefits of vertical integration. Progress will be supported by an accelerated diligence process and is subject to internal approvals, regulatory requirements, and the negotiation and signing of definitive agreements.
Abduljabbar Alsayegh, President of New Energy Metals Holdings Ltd, said in closing, "We are excited to join forces with PERMINAS and to embark on a collaboration that strengthens and diversifies global critical rare earth supply chains. We acknowledge Indonesia's national vision in advancing strategic critical minerals and rare earth value chains, an agenda that is increasingly vital to global energy transition, technology leadership, and supply security."
-END-
About Danantara Indonesia
Danantara Indonesia, officially known as Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara), is a strategic investment management institution established under Law No. 1 of 2025. As an independent entity under the President, Danantara Indonesia's mandate is to manage and optimize government investments and assets from State-Owned Enterprises (SOEs) in order to support the achievement of the Asta Cita vision, strategic national plans, as well as government programs to accelerate industrialization and economic growth. With a professional, transparent, and accountable approach, Danantara Indonesia aims to strengthen the governance of state assets, create added value for the economy, while increasing Indonesia's competitiveness in the global market. More on Danantara Indonesia: https://www.danantaraindonesia.co.id
About New Energy Metals Holdings Ltd (NEM)
NEM is a strategic minerals developer and investor incorporated in Abu Dhabi Global Market (ADGM). The company operates in the Republic of Gabon through its subsidiary, Dusk Gabon S.A., which holds the relevant mining rights and licenses to the Maboumine project, a polymetallic resource comprising niobium and high-demand magnet rare earth elements (REE), with associated phosphate by-products.
About PT Perusahaan Mineral Nasional (Persero) (PERMINAS)
PERMINAS is a state-owned enterprise of the Republic of Indonesia mandated to support national strategic objectives relating to the development, management and downstream industrialization of strategic minerals, including rare earth elements and other critical minerals. PERMINAS forms part of the Danantara group, Indonesia's national strategic investment platform.
For more information, please contact:
Communications Team
Danantara Indonesia
media@danantaraindonesia.com
Emad Qaitoqa
New Energy Metals Holdings Ltd
emad@nem-uae.ae
Corporate Secretariat
PT Perusahaan Mineral Nasional (Persero)
corporate@perminas.id