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ERMAF - Eramet To Benefit From South Africa's 21-Day Lock-Down
Eramet Sln Ord
Investment Thesis
South Africa has been in a 21-day lock-down since midnight of March 27, which is set to remove two-fifths of manganese ore supply from the market. The lock-down will significantly decrease manganese ore stockpiles and fears about a possible shortage are likely to lead to a meaningful increase in manganese ore prices.
One company which will gain from this change in the market is France's Eramet (ERMAF; ERMAY), as manganese ore accounted for almost half of its revenues in 2019.