MILAN, Aug 30 Reuters Shares in European oil producers, miners and other companies with large exposures to Gabon plummeted on Wednesday after a military coup raised concerns over their operations in the resourcerich African country.
Londonlisted oil producer Tullow Oil fell as much as 12 in afternoon trading, while French energy companies TotalEnergies Gabon and Maurel et Prom and miner Eramet all dropped by more than 20 at one point.
Shares are reacting to concerns over the backdrop in Gabon, said Investec equity analyst Alex Smith in London.
Military officers in Gabon said they had seized power on Wednesday and put President Ali Bongo under house arrest, stepping in minutes after the state39;s election body announced he had won a third term.
France, Gabon39;s former colonial ruler which has troops stationed in the African nation, condemned the coup.
Eramet, the world39;s No.1 producer of highgrade manganese ore thanks to its Moanda mine in Gabon, said it had suspended all operations in the country as a precautionary measure.
Timber company Woodbois also said production at its facilities in the Gabonese city of Mouila were suspended, sending its Londonlisted shares almost 16 lower.
However, Assala Energy, which current owner Carlyle has agreed to sell to Maurel, said its oil production in Gabon was unaffected.
Tullow Oil also told analysts its production was continuing as normal.
Note Gabon production represents around 20 of group production. However, assets…