Talks on Gabon Eramet entry next month: presidency

21st May 2010, Comments 0 comments

Talks about Gabon's entry into the capital of French mining group Eramet will take place next month, a spokesman for Gabonese President Ali Bongo said Friday.

"There will be negotiations mid-June," spokesman Guy Bertrand Mapangou told reporters, refusing to be drawn on Gabon's reported aim to take shares in the group.

"The president has nothing to say on the subject. We will see in June. If there are results, will communicate them at the opportune time," he said.

The official added however that Gabon should "participate in certain activities which concern its development, notably in the petrol and mining sectors."

The state in resource-rich Gabon holds a 25 percent stake in the local Comilog manganese mining company, which is controlled by Erament.

French daily Le Figaro reported early May that Gabon wanted to take a 10 to 15 percent share in Eramet and increase its holdings in Comilog to 33 percent.

Developments concerning Eramet shares have been a source of speculation for months with the second largest shareholder, cash-strapped French nuclear engineering group Arevam, reportedly planning to shed its nearly 26 percent stake.

© 2010 AFP

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