(News Bulletin 247) – Eramet shares fell nearly 20% on Wednesday on the Paris Stock Exchange due to political unrest in Gabon, where the group operates the world’s first manganese mine.
A coup attempt was carried out today in Gabon, where a group of officers say they have ousted newly re-elected President Ali Bongo from power.
Asked by News Bulletin 247, Eramet said this morning that it had suspended all its activities in the country as part of a procedure aimed at ensuring the safety of its staff.
“All the operations of Comilog and Setrag, which operates the Trans-Gabon railway network transporting the ore, have been put on hold,” said a spokeswoman for the mining group.
According to market sources, this ‘temporary’ suspension would constitute a simple precautionary measure while waiting to see more clearly on the situation.
Eramet currently employs some 8,000 people in Gabon, 98% of whom are Gabonese.
The company recently announced that it plans to invest nearly 200 million euros in the country in order to sustain the growth of its production and the transport of the ore.
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