SHARES in French mining giant Eramet tumbled on Monday following Gabon’s announcement of an export ban on unrefined manganese ore from 2029 – a move that threatens to disrupt the company’s substantial operations in the West African nation, according to a report by Reuters today.
The Gabonese government unveiled the policy over the weekend as part of a broader trend across Africa, where nations including Guinea with bauxite, Zimbabwe with lithium, and Mali and Tanzania with gold are shifting from raw material exports towards local processing to capture greater value from their natural resources.
Eramet holds the controlling stake in Comilog, the Gabon-based manganese mining company that operates the world’s largest manganese mine at Moanda. The mineral is essential for steel production and increasingly vital for electric vehicle batteries, with global demand continuing to rise.
The French group acknowledged the Gabonese government’s intention to prohibit crude manganese exports from January 2029, stating it would continue working with authorities “in a spirit of constructive partnership and mutual respect”. The company emphasised its commitment to protecting the 10,460 Gabonese jobs supported by Comilog and its railway transport subsidiary Setrag.
Eramet’s share price plummeted as much as 5.5% in early trading before recovering slightly to close approximately 4% by 8am in London.
The policy shift comes under President Brice Oligui Nguema, who seized power in a coup in 2023 after ousting former president Ali Bongo, before securing election victory last month. Nguema is pursuing efforts to unite the country and revitalise its struggling economy.
Gabon, primarily known as an oil exporter, possesses some of the world’s richest manganese deposits. These are operated mainly by Comilog, alongside Chinese companies, with exports flowing to China, Europe and America, said Reuters.
