France to become major shareholder in Gabonese manganese miner

France is set to become the largest shareholder in Eramet, a multinational company with significant operations in Gabon. On October 12, Eramet confirmed plans to increase its capital by the end of the year, with the French state poised to invest up to 330 million euros. This investment would give France a 49% stake in the company, surpassing other shareholders.

Eramet's subsidiary, Comilog, operates one of the world's largest manganese deposits in Moanda, Gabon. The French government's increased involvement in Eramet comes as the company faces challenges, including a drop in manganese prices and operational difficulties at its nickel operations in New Caledonia.

Gabonese reactions to the French government's increased stake in Eramet have been mixed. Some view it as a positive development that could bring more investment and stability to the country's mining sector. Others express concern about increased French influence in Gabon's economy, which is heavily reliant on mining and oil.

Eramet's operations in Gabon are crucial to the country's economy, contributing significantly to its GDP and providing thousands of jobs. The company's manganese exports are a major source of foreign currency for Gabon. The French government's investment in Eramet could potentially bolster these economic benefits, but it also raises questions about Gabon's economic sovereignty.

This development comes at a time when Gabon is seeking to diversify its economy and reduce its dependence on natural resource extraction. The country has been exploring opportunities in sectors such as agriculture, tourism, and technology. However, mining remains a cornerstone of Gabon's economy, and the French government's increased stake in Eramet could have significant implications for the country's economic future.

**Context:** Gabon's economy is heavily reliant on natural resource extraction, particularly mining and oil. The country is one of the world's top manganese producers, with Eramet's Comilog subsidiary operating one of the largest manganese deposits. France's increased stake in Eramet could bring more investment and stability to Gabon's mining sector, but it also raises questions about economic sovereignty and the country's efforts to diversify its economy.