Seriously affected by the fall in prices of nickel and manganese, Eramet took, on October 14th, the decision to suspend its plans, due to particularly degraded market conditions.

"The Board of Directors decided on the limitation of capital expenditure and the suspension of major projects of the group," said its CEO Patrick Buffet said in a statement.

Eramet has not clarified the scope of this project gel. But it seems that only the maintenance operations are maintained. The producer of nonferrous metals, however, continue its cost reduction plan and improved profitability. "In this context of difficult market, Eramet maintains financial liquidity of 1.8 billion euros including 981 million euros of undrawn credit confirmed", reassures the French mining group.

Moreover, the Mining Company of the Ogooue (Comilog) first mining settlement and metallurgical Eramet will continue to produce 3.8 million tons of manganese ore in perspective with the 4 million tonnes. It also hopes to bring the Moanda Metallurgical Complex, inaugurated last June to its optimal level of production.

Khephren FANGA