The mining of manganese in Gabon significantly boosted the Central African country’s revenue in its previous fiscal year.
- Gabon’s revenue significantly boosted by manganese mining in 2024.
- Manganese necessary for manufacturing steel and batteries.
- Gabon’s manganese mining revenue grew by 5.8% from September 2023 to over $1 billion by 2024.
In 2024, Gabon saw a substantial increase in its revenue, thanks in no small part to its production of manganese.
Gabon’s increasing manganese output contributed significantly to the country’s considerable income growth in 2024.
The mineral, which is necessary for the manufacturing of steel and batteries, has emerged as a major force behind the nation’s economic success.
According to reports, Gabon’s manganese mining revenue grew by 5.8%, from $978 million at the end of September 2023 to over $1 billion by 2024.
The price of manganese ore increased by 16.7% throughout the time under review, which was the main driver of this income growth.
Global demand swings, supply chain interruptions, and manganese’s strategic importance in developing sectors like the manufacture of electric vehicle (EV) batteries all had a significant impact on the price increase.
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Gabon’s manganese production has steadily increased, indicating the country’s expanding mining capacity and efficiency. From January to September 2024, overall output increased by 10.7% to 7.5 million tonnes, up from 6.7 million tonnes in 2023.
This expansion can be due to increasing mining operations, infrastructural expenditures, and extraction technological advancements.
Despite increased output, the country’s manganese trade numbers reveal a different tale.
Gabon exported 6.3 million tonnes of manganese in the first nine months of 2024, a 7.7% decrease from the 6.8 million tonnes sold in the same time in 2023, according to the Ministry of Economy, as reported by the media.
The fall in exports shows that logistical problems, geopolitical uncertainty, and global market swings may have all had an impact on trade volumes.
Due to the volatile price and demand for this mineral, the Eramet company, whose subsidiary Comilog specializes in its mining and processing, suggested the idea to the country’s president to assist its activities in Gabon.
Source: Sputnik
