Gabon military coup sparks concern at Fortescue
London | A military coup in Gabon has sent a tremor through Fortescue Metals Group and its $US200 million ($310 million) plan to build a huge iron ore mine in the resource-rich central African country.
Army officers have reportedly overthrown the government of President Ali Bongo, who won a bitterly contested election at the weekend, and whose family has held power for half a century.
Triumphant mutineers hold aloft General Brice Clothaire Oligui Nguema in Libreville, Gabon. AP
Media reports said the military had shut the country’s borders, and gunfire was heard on the streets of the capital, Libreville. French mining giant Eramet, which initially suspended its manganese mining operations for security reasons, said it expected work to resume on Thursday.
A Fortescue spokesman said the company had confirmed the safety of its team members in Gabon and was “providing them with ongoing support”.
“The safety of our people and the communities in which they operate is always our highest priority,” the spokesman said.
Fortescue did not comment on whether the coup would have any impact on the prospects for its Belinga iron ore project.
“We are taking the current events unfolding in Gabon very seriously,” the spokesman said.
Fortescue inked its development deal with the Gabonese government in February, and owns about three-quarters of the project, with the rest held by the UAE-registered African Transformation and Industrialisation Fund, and the Gabonese government.
Fortescue has committed to spending $US200 million on the mine’s early-stage development across this year and next.
Belinga is already sending high-grade iron ore to port and is scheduled to start shipping by the end of this year.
The initial output is expected to be 2
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