French miner Eramet whose mines in Gabon make it the world's largest producer of high-grade manganese ore, has suspended all operations in the country because of an ongoing coup, it said on Wednesday, sending its shares sharply lower. A group of senior Gabonese military officers appeared on television in the early hours of Wednesday and said they had taken power after the state election body announced President Ali Bongo had won a third term.
French miner Eramet whose mines in Gabon make it the world's largest producer of high-grade manganese ore, has suspended all operations in the country because of an ongoing coup, it said on Wednesday, sending its shares sharply lower.
"In view of the events under way in Gabon and as a precautionary measure, the group has activated procedures to ensure the security of its staff and the integrity of its operations," a spokesperson for Eramet, Gabon's largest private employer, told Reuters. Eramet's manganese operations, led by its Comilog unit operating the Moanda mines in Gabon, were the main contributor to the company's profits last year.The spokesperson said operations at Comilog and its train transportation unit Setrag had been suspended.
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