Gabon to audit mining deals as reforms start amid IMF talks

Gabon will kick off an audit of mining contracts as it seeks to strengthen governance amid talks with the International Monetary Fund for a new lending program.

As part of discussions with the multilateral lender, President Brice Oligui Nguema “has demanded the full publication of all mining agreements and a comprehensive audit of those concluded between 2010 and 2024,” Nadine Nathalie Awanang, a spokeswoman for the government, said in a video posted on the presidency’s Facebook page.

The fund suspended the central African nation’s three-year $553 million extended fund facility after a coup in August 2023. Junta leader Nguema won elections in April this year, and wants to clinch a new arrangement for the OPEC-member country.

Apart from oil, a vital part of the Gabonese economy is mining, which Nguema plans to leverage. Paris-based Eramet and China’s Industrial and Commercial Mining Company of Huazhou extract manganese in the country. Australia’s Apollo Minerals Ltd. is exploring for gold and zinc, while Fortescue Ltd. is developing an iron ore project in a joint venture with the government.

The IMF projects Gabon’s gross domestic product to expand 2.6% in 2026, from 1.9% this year. It forecasts inflation to average 2.5% next year, up from 1.4%.

(By Kamailoudini Tagba)