Eramet to work with Gabon despite manganese exports ban
This regulatory change could disrupt operations for the French mining giant, particularly its Gabon-based subsidiary Comilog, currently the world's largest manganese mine.
The Gabonese Government's weekend statement regarding the ban aligns with a broader trend of African nations such as Guinea (bauxite) and Zimbabwe (lithium) moving towards local processing of raw materials instead of exporting them, reported Reuters.
The demand for manganese is on the rise globally, not only for steel production but also for electric vehicle batteries.
In response to the announcement, Eramet acknowledged the Gabonese Government's intentions and expressed its commitment to continue working with the authorities 'in a spirit of constructive partnership and mutual respect'.
The company emphasised its goal to protect the jobs of the 10,460 Gabonese employees at Comilog and its railway transport unit, Setrag.
Despite an initial 5.5% drop, Eramet's shares later stabilised, trading around 4% lower by 08:00 GMT.
Gabon's President, Brice Oligui Nguema, who came to power following a coup in 2023 and was elected last month, is focused on uniting the country and revitalising its struggling economy.
While Comilog, partly owned by the Gabonese state, does process some manganese locally, most of its ore is exported.
Eramet's growth has been largely driven by the Moanda mine and the Weda Bay nickel mine in Indonesia, in contrast to its traditional nickel operations in New Caledonia, which have been hampered by losses and social issues.
The company's recent memorandum of understanding (MOU) with Indonesia's sovereign fund, Danantara, reflects its strategy to explore potential investments in nickel processing, following Indonesia's own nickel ore export ban to foster local industry development.
Moreover, Firebird Metals has secured a non-binding MOU with Eramet in February for the supply of manganese ore, which will be utilised in the initial phase of Firebird's planned facility in China to produce battery-grade manganese sulphate and manganese tetra-oxide.
"Eramet to work with Gabon despite manganese exports ban" was originally created and published by Mining Technology, a GlobalData owned brand.
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