SMM6 26 June: June 24, Eramet issued a notice that the company intends to expand the Moanda manganese mine production project in Gabon. At present, the project has been licensed by the local authorities of the two countries in recent months, and funding has entered an active phase.
It is reported that Eramet aims to increase the global production capacity of manganese ore from 4.3 million tons / year to 7 million tons in 2023 in 2018, thus putting Comilog's manganese ore in a leading position in the world market for a long time. This increase will reduce cash costs by about 20 per cent and increase the market share of the company's products from the current 10 per cent to 15 per cent. According to the techno-economic feasibility study, investment in Gabon will reach 640 million euros within five years, with production growing even faster.
The economic balance of the project is assumed to be conditional on the recognition by the Government of Gabon of the maintenance of the existing law and finance, in particular the binding mining convention with the Group and its partner, the country of Gabon. In addition, the project is a detailed environmental and social impact assessment (EIES), certificate conducted in accordance with the most stringent international standards of the World Bank, issued by the regulatory authorities of Gabon. In response to the increase in transport volume, the railway update strategy was revised at Setrag to speed up work and make the transport of goods and passengers more reliable.
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