Gabon is moving forward with a major rare earth mining project: Presidency.

Gabon is moving forward with a major rare earth mining project: Presidency.

Gabon is moving to revive its long-running mbonié niobium and rare earth project through a proposed $2 billion development, the presidency said on social media.

Emirates-backed New Energy Metals and subsidiary Gabon Inter-Arab presented a technical study to President Brice Clutter Oligoi Ngeme during his recent visit to Beijing, according to the presidency.

Key features of the proposed project:

Economic Impact: The project is expected to create over 2,500 direct jobs and establish local processing facilities.

Timeline: Construction is scheduled to begin in 2027.

Background: Located 200 km southeast of the capital Libreville, the Mabonie site has been exposed for years without reaching commercial production. Details of the financing and the specific roles of the partners have not yet been revealed.