Gabon move to acquire stake in international manganese-mining company

Gabon said it was moving to acquire a stake in Eramet, the international company whose subsidiary, Comilog, mines manganese in Moanda in the east of the country.

This is part of government action, under President Brice Clotaire Oligui Nguema, to achieve greater control over its natural resources.

The state already owns 29 per cent of Comilog and claims it reached an agreement on acquiring a stake in Eramet during the Africa Forward summit in Nairobi this week.

It said firm commitments have been made, but did not specify the amount and terms of the stake.

The French mining giant, for its part, said it had noted Libreville’s intention “to subscribe to its €500 million capital increase”.

Eramet added that management will submit the proposal to shareholders when the group meets on the 27 May.

Last year, Gabon announced an export ban on unrefined manganese from 2029 as part of plans 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's Moanda mine is the world’s biggest for manganese.