Perminas and NEM Sign Rare Earth MoU to Strengthen Upstream-Downstream Integration
PT Perusahaan Mineral Nasional (Persero), known as Perminas, and New Energy Metals Holdings Ltd (NEM), with the backing of Danantara Indonesia, announced the signing of a memorandum of understanding (MoU) establishing a framework for cooperation on critical minerals management on Monday, 16 February 2026 in Jakarta.
Scope of Cooperation
The agreement sets out a framework for evaluating the strategic potential of the Maboumine niobium and rare earth element (REE) resources in the Republic of Gabon, as well as 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 encompassing resource development, processing, and advanced manufacturing.
Danantara’s Support
The cooperation has the full backing of Danantara Indonesia as the national strategic investment management body.
Danantara CEO Rosan Perkasa Roeslani stated that Indonesia’s industrial growth phase requires strong access to strategic inputs and the ability to convert them into globally competitive downstream products. “This cooperation framework aligns with that ambition and supports the development of a future-oriented strategic critical minerals value chain,” he said.
Joint Working Group and Value Chain
The MoU establishes a joint working group tasked with implementing a structured and accelerated cooperation programme, including immediate information sharing, joint technical workshops, and coordinated commercial assessments.
The parties will develop upstream and downstream pathways along the rare earth metals value chain. This encompasses separation, refining, metal or alloy production, and permanent magnet manufacturing, with the aim of creating an integrated and competitive supply chain from resource to finished magnet product.
Potential Investment in Maboumine Mine
The parties will fast-track negotiations on potential financing and strategic investment, including equity and/or debt participation by Perminas and/or Danantara in the Maboumine mine and related project entities.
Progress will be supported by an accelerated due diligence process and will be subject to internal approvals, regulatory requirements, and the negotiation and execution of definitive agreements.
Stakeholder Responses
Perminas President Director Gilarsi Wahju Setijono said: “This MoU creates a structured pathway to connect upstream resource potential with downstream value creation, in line with long-term national priorities.”
New Energy Metals President Abduljabbar Alsayegh said Indonesia plays an important role in the global critical minerals supply chain. “We appreciate Indonesia’s vision in advancing the critical minerals value chain, which is increasingly vital for the global energy transition and supply resilience,” he stated.
Head of the Mineral Industry Agency (BIM) Brian Yuliarto also expressed his appreciation, noting that the moment marks a new phase of Indonesia’s involvement in the world-class critical minerals industry. “The collaboration with NEM reflects Indonesia’s growing industrial capacity and the confidence of international partners in Indonesia’s critical minerals potential,” he said.
Context of Perminas’s Establishment
The memorandum of understanding represents an initial strategic step for Perminas as a state-owned enterprise newly established this year. Perminas’s primary focus is the management of critical minerals, with particular emphasis on rare earth elements. These minerals form the foundation of 21st-century technologies, including electric vehicles, renewable energy systems, semiconductors, artificial intelligence, robotics, and the aerospace and defence industries.