ERAMET Manganese: robust results despite the fall in manganese ore prices thanks to the outstanding quality of its Moanda deposit

[Ferro-Alloys.com]CRU CIF China spot prices for high-grade manganese ore fell by more than 30% year-to-date to approximately USD 3/dmtu, largely due to the decrease of the global carbon steel production (-2% in H1 2015 compared to H1 2014).

Despite this backdrop, ERAMET Manganese sales has moderately increased in 
H1 2015 at €718 million compared with €683 million in H1 2014.

ERAMET Manganese ore production in Gabon totalled almost 1.9 million tons in H1 2015, increasing steadily since H1 2014, a level never attained before in a first semester. The Group is extremely well positioned on the cost curve of manganese ore producers thanks to the intrinsic qualities of the Moanda deposit in Gabon.

Manganese alloys prices remained stable as a whole and production increased by over 4% on H1 2014.

Current operating income for ERAMET Manganese came out at €32 million in H1 2015 compared with €61 million in H1 2014.

H1 2015 was marked by the opening of the Moanda Metallurgical Complex in Gabon. These new entities reaffirm ERAMET`s global leadership position across the entire spectrum of manganese alloys.

Lastly, in the mineral sands sector, the ramp-up at Grande Côte will continue during the second half of this year. TiZir, a 50/50 joint-venture with the Australian company Mineral Deposits Limited, aims to become a new leader in the markets of ilmenite for titanium dioxide and zirconium for ceramics.

• [Editor:Sophie]