Eramet Comilog to stop manganese production at Moanda in Gabon
Time:Wed, 24 Feb 2016 08:57:59 +0800
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French mining company Eramet will stop in the current quarter production at the Moanda manganese mine in Gabon for 4 weeks due to low prices. Mine workers are sent on leave. There will also be canceled some contracts with subcontractors.
This measure will significantly reduce the production of manganese ore and alloys, said CEO Patrick Buffet. According to him, the decision to suspend production made in response to "the deterioration in market conditions and growth in ore stockpiles."
Moanda is running division Eramet Comilog, the second largest global manufacturer of high-grade manganese ore. In 2015, the facility record amount of ore was produced - 3.9 million tons.
Operating income Eramet Manganese in 2015 fell to 58 million euros ($ 65 million.) Compared with 137 million euros in 2014. Sales amounted to € 1.43 billion.
