The activities of French mining group Eramet have been “shut down” in Gabon after a military coup in the country targeting outgoing President Ali Bongo, the company said on Wednesday. “Following the latest current events”, the group has “shut down” its activities in Gabon and “monitors” the situation to “protect the safety of (its) personnel and the integrity of (its) installations”, he specified. Eramet employs some 8,000 people in the country, mostly Gabonese.
This announcement caused Eramet’s share price to drop on the Paris Stock Exchange, which lost 18.83% to 61.85 euros around 9:55 a.m. The group is present in Gabon through two subsidiaries. One, the Comilog company (the Ogooué mining company) specializes in the extraction of manganese, an ore of which Eramet is the world’s second largest high-grade producer. Setrag (the Société d’exploitation du transgabonais), the second subsidiary of the French group, operates the rail line that connects the Atlantic coast to the south-east of the mineral-rich country through the equatorial forest of Gabon.
The company transports minerals and passengers over 650 km. “Following the latest ongoing events”, the group has “put a stop” to its activities in Gabon and “follows” the situation to “protect the safety of (its) personnel and the integrity of (its) facilities”, he specified. Eramet employs some 8,000 people in the country, mostly Gabonese.
