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Article: EU/GABON: EURO 35 MILLION CLEARED FOR MINING PROGRAMME.
- Article from:
- European Report
- Article date:
- January 11, 2003
CopyrightCOPYRIGHT 2003 Europolitics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The European Commission has cleared a Euro 35 million grant to boost the mining sector in the West African state of Gabon. The six-year programme aims to help the country overcome its economic vulnerability in the wake of the exhaustion of its oil reserves. The mining sector is weak: Gabon's uranium mines were closed in 1999 as deposits ran out, while manganese ore exports were affected by the downturn in the world iron and steel industry, and by the new environmental requirements on the market.
The programme has three main aims:
- to ensure the long-term stability of the country's economy despite the exhaustion of oil reserves, and to safeguard the ...
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