Latest news with #Eramet
Reuters
4 days ago
- Business
- Reuters
Eramet names processing head in Gabon with eye on manganese ore export ban
PARIS, Aug 12 (Reuters) - French mining group Eramet ( opens new tab has appointed an executive to oversee mineral processing in Gabon, the company said on Tuesday, as the West African country seeks to end exports of unrefined manganese and boost local processing. Gabon's government announced at the end of May that it would ban the export of raw manganese from January 2029, joining other West African states in seeking to capture more value from their mining resources. Eramet Chief Executive Paulo Castellari said at the end of July that he had met Gabonese President Brice Oligui Nguema following the decision that could hit Eramet's massive export-orientated production of the steel ingredient in the country. The company said in a statement that Clement Jakymiw would take up the new role of director of value chain transformation in Gabon, reporting to Castellari. "This approach echoes the country's ambition for industrialization and local processing and is part of the longstanding partnership that has united Eramet with Gabon, the Group's historic home for nearly thirty years," Castellari said in the statement. Jakymiw was previously deputy chief operating officer in charge of manganese ore. Gabon, also an oil exporter, holds some of the world's richest manganese deposits that are primarily operated by Eramet's Comilog subsidiary. Comilog, in which Gabon holds a minority stake, processes some manganese locally but mostly exports its ore.
Reuters
30-07-2025
- Business
- Reuters
Eramet adjusts 2025 volume targets after H1 earnings dip
PARIS, July 30 (Reuters) - French mining group Eramet ( opens new tab reported a sharp decline in first-half results on Wednesday and warned that macroeconomic conditions should remain difficult for the rest of the year, prompting a downward revision to its 2025 production targets. Eramet reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 191 million euros ($219.12 million) in the first half of the year, down 45% from a year earlier. The earnings exclude Eramet's New Caledonian nickel subsidiary SLN, which is being propped up by French government loans. "Our first-half results are not at all in line with our ambition," Eramet Chief Executive Paulo Castellari told reporters. The decline was driven by a 92 million euro cut in contributions from operations in Indonesia, which accounted for nearly two-thirds of the EBITDA decrease, due to lower nickel grades and higher operating costs at new mining sites in Weda Bay, Castellari said. The company revised its annual production targets, cutting manganese ore guidance to 6.5 million–7.0 million metric tons, from 6.7 million-7.2 million in early February, and lithium carbonate to 4–7 kilotons from 10-13 kilotons, citing operational delays in Argentina. The revisions reflect challenges posed by a subdued global steel market, declining Chinese demand, and operational bottlenecks. In contrast Eramet raised its target for marketable nickel ore to between 36 and 39 metric wet metric tons for 2025, from 32 Mwmt seen in February. Progress in Gabon and Senegal provided some relief, with logistics improvements in Gabon boosting manganese ore volumes in the second quarter, and Senegal achieving a 20% increase in mineral sands production during the first half. Castellari said he met Gabonese President Brice Oligui Nguema this month after the West African country last month announced an export ban on unrefined manganese from 2029 that would hit Eramet's massive export-orientated production of the steel ingredient in the country. ($1 = 0.8717 euros)
Yahoo
03-06-2025
- Business
- Yahoo
Eramet to work with Gabon despite manganese exports ban
Eramet said it will work with the Gabonese Government despite a forthcoming ban on unrefined manganese exports, set to take effect from 1 January 2029. 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. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
TimesLIVE
03-06-2025
- Business
- TimesLIVE
Eramet's shares slide as Gabon plans manganese ore export ban
Shares in Eramet fell sharply on Monday after Gabon announced an export ban on unrefined manganese from 2029, potentially upending the French mining group's massive export-orientated production of the steel ingredient in the West African country. Gabon's plan, announced by the government in a weekend statement, comes as several African countries — including Guinea with bauxite, Zimbabwe with lithium, and Mali and Tanzania with gold — seek to move from exporting raw material to local processing. Demand for manganese, used in steel production and increasingly in electric vehicle batteries, has grown globally. Eramet is the main shareholder in Gabon-based manganese mining firm Comilog, whose Moanda mine is the world's biggest for manganese. Eramet said in a statement that it noted the Gabonese government's intention to ban crude manganese exports from January 1, 2029 and would continue to work with the authorities "in a spirit of constructive partnership and mutual respect". The group will aim to safeguard the 10,460 Gabonese jobs sustained by Comilog and Comilog railway transport unit Setrag, it added. Eramet shares fell as much as 5.5% before paring losses to trade about 4% lower by 8am GMT.
Bloomberg
02-06-2025
- Business
- Bloomberg
Eramet Shares Drop as Gabon Aims to End Manganese Ore Exports
Eramet SA shares fell as much as 5.7% after Gabon decided to ban the export of manganese ore from 2029, jeopardizing the French miner's biggest source of profit. Friday's announcement, which threatens to upend the supply chain of a metal that's used to harden steel products chiefly used in construction, is part of the African nation's aim to boost jobs and add more value domestically to the country's oil, timber and manganese resources.
