Eramet gained more than 3% on Monday, making it one of the best performers on the SBF120 index, after the junta that took power in Gabon at the end of August appointed Marcel Abeke, former director of Comilog, the mining group's Gabonese subsidiary, to the post of Oil Minister on Saturday.

At 3:45 pm, Eramet shares gained 3.95% to 72.20 euros, while the SBF 120 gained 0.49%.

Marcel Abeke, who was also Eramet's Executive Director in charge of the Group's development in Africa, had been High Commissioner of the Republic of Gabon since March.

This appointment to the post of Minister of Petroleum in hydrocarbon-rich Gabon is "good news for the mining and oil companies present in Gabon", said Nicolas Montel, analyst at Portzamparc BNP Paribas.

"It should strengthen Eramet's position in the country", he added.

Comilog, 31.3% owned by the government, is "one of the country's major industrial and economic success stories", while its Moanda mine is the world's leading manganese producer, noted the analyst, who said he did not expect any major changes in the country's mining policy.

The military coup in Gabon, whose economy is heavily dependent on oil exports, led to a sharp fall in the shares of oil and mining groups and other companies with exposure to Europe.

Eramet shares plunged 16.5% on August 30, following the announcement of the coup d'état in Gabon and the temporary suspension of the Group's activities in the country. The stock is still trading almost 5% below its pre-coup level.

(Olivier Sorgho reports, Diana Mandiá edits by Blandine Hénault)