Gabon outlines $2B mining project with Emirati and Chinese companies

The new investment is at aimed at exploiting the country’s undeveloped mineral wealth and reducing the economy’s dependency on oil. Gabon is planning a $2 billion project with Emirati and Chinese companies to mine and process rare earth elements and niobium, a metal used to strengthen steel, in a move aimed at exploiting the country’s undeveloped mineral wealth. The new investment would bring the long-stalled Mabounié deposit, southeast of Libreville, into production. Abu Dhabi-based mining group New Energy Metals is developing the deposit with engineering support from Beijing-based ENFI, with construction expected to begin in 2027, the presidency said. The development was announced during a visit by Gabon’s president to China last week, when the two countries agreed to strengthen ties. China already dominates the processing of many critical minerals, while the shift to cleaner energy and new technologies is driving US, European, and Gulf investors to court African governments for access to their resources.