No plans for production increase in 2024

  • Gabon’s Minister of Mines confirms no increase in manganese production
  • Comilog aims to increase production to 8-10 million metric tons
  • Manganese production in Gabon limited to 8 million tons per year
  • Manganese contributes 6% to Gabon’s GDP

Gabon’s Minister of Mines, Herve Patrick Opiangah, has confirmed that the country will not be increasing its yearly production of manganese. This announcement comes in response to reports that Comilog, a subsidiary of French mineral giant Eramet, plans to ramp up production to between 8 million and 10 million metric tons from next year. Opiangah stated that the production of manganese in Gabon should not exceed the limit of 8 million tons per year. Currently, the company expects to produce 7.5 million tons of manganese in 2023. It is worth noting that manganese contributes approximately 6% to Gabon’s GDP.

Public Companies: Eramet (N/A)
Private Companies:
Key People: Herve Patrick Opiangah (Minister of Mines)

Factuality Level: 8
Justification: The article provides direct quotes from Gabon’s Minister of Mines, Herve Patrick Opiangah, stating that the country won’t increase its yearly production of manganese. It also mentions the reported plans of Comilog, a subsidiary of Eramet, to increase production to between 8 million and 10 million metric tons from next year. The article includes information about the expected production of 7.5 million tons of manganese in 2023. The statement about manganese contributing about 6% to Gabon’s GDP is not directly attributed to a source, but it is a commonly known fact.

Noise Level: 7
Justification: The article provides relevant information about Gabon’s Minister of Mines stating that the country won’t increase its yearly production of manganese. It also mentions the plans of Comilog, a subsidiary of Eramet, to increase production. However, the article lacks in-depth analysis, scientific rigor, and evidence to support the claims made. It does not explore the consequences of the decision or provide actionable insights or solutions. Overall, the article contains some relevant information but lacks depth and supporting evidence.

Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this news article are the manganese market and potentially the stock market of Eramet.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: This news article pertains to the financial topic of manganese production in Gabon and its impact on the country’s GDP. It does not describe any extreme event.

Reported publicly: www.marketwatch.com