In 2024, Gabon experienced significant revenue growth, largely driven by its manganese mining sector.
Gabon is one of the world’s largest producers of high-quality manganese, ranking second in Africa after South Africa. The country capitalised on the rising global demand for manganese, which is vital for manufacturing steel and batteries.
Gabon’s manganese mining revenue grew by 5.8%, reaching over $1 billion by the end of the year, up from $978 million in 2023. This surge was largely attributed to a 16.7% increase in the price of manganese ore, which was influenced by global supply chain disruptions and manganese’s increasing role in electric vehicle (EV) battery production.
The country’s manganese production also saw a notable rise in 2024. Output increased by 10.7%, reaching 7.5 million tonnes by September, compared to 6.7 million tonnes in the same period the previous year.
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However, despite the increase in production, exports fell by 7.7%, from 6.8 million tonnes in 2023 to 6.3 million tonnes in 2024. This decline highlights the challenges faced by Gabon’s mining sector, including logistical issues, geopolitical uncertainty, and fluctuating global market conditions.
Gabon’s strategic focus on expanding its mining sector is evident in its efforts to modernize mining laws and provide incentives for investors. The country’s Mining Code, which offers tax holidays and competitive royalty rates, has attracted substantial foreign interest.
The presence of companies like COMILOG, a subsidiary of the French group Eramet, further illustrates the sector’s growing impact. COMILOG’s operations in the mining town of Moanda have transformed the local economy, providing billions of CFA Francs for community development.
Gabon’s manganese industry plays a crucial role in its economic diversification plans. Despite the challenges, the country’s commitment to sustainable mining practices and its strategic focus on developing its mining sector make Gabon an attractive destination for international investment.
