The political uncertainty in Gabon following a coup attempt by a group of putschists had a direct impact on the economic activities of certain actors, including the French group Eramet. This company, which specializes in the exploitation of manganese, has announced the temporary suspension of its operations in the country, leading to a significant drop in its shares on the Paris stock exchange.
In an official statement, Eramet explained that this decision was aimed at ensuring the safety of its personnel and the integrity of its facilities, given the latest events in Gabon. The group has decided to shut down its activities, particularly those linked to the transport of ore by rail.
Eramet is the majority owner of Compagnie Miniere de l’Ogooué (Comilog), which operates the largest manganese mine in the world, located in Gabon. This suspension of activities will therefore have a significant economic impact, both for the company and for the country.
In Gabon, Eramet employs around 8,000 people and produced 2.6 million tons of manganese in the first half of 2023, which represents a 27% drop compared to the same period of the previous year. The coup attempt led by a group claiming to be part of Gabon’s defense and security forces also led to the cancellation of the presidential election of August 26, 2023, with a contested proclamation of President Ali Bongo as the winner.
This troubled political situation highlights the risks that international companies can face in unstable environments. The suspension of Eramet’s activities in Gabon highlights the direct impact of such events on the financial markets and the economy in general.
It now remains to be seen how the political situation will evolve in Gabon and what the long-term consequences will be for companies operating in the country. In the meantime, Eramet is facing major challenges and must put in place measures to ensure the safety of its employees and the sustainability of its facilities.
In conclusion, the coup attempt in Gabon had a direct impact on the activities of Eramet, which temporarily suspended its operations in the country. This decision led to a drop in the value of the company’s shares on the Paris stock exchange. The troubled political situation underscores the risks that international companies face in volatile environments, and it is important for them to take steps to ensure the safety of their employees and the continuity of their activities in such environments