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The questions and answers are: 

Q: So now there is a safeguard in place, but the implications are a bit complex as there seems to be a positive pricing effect, but also possibly a negative volume effect since you're based out of Europe for most of your production. So can you perhaps explain us what you view are the impacts for Eramet?

A: To be quite frank, I don’t think anyone in the industry has yet assessed the impact of the safeguard measures. You correctly say, our business in Norway, we have three plants there. It's a very complex picture. It's even a complex formula to actually understand the actual tariffs that are being applied or the duties, I should say, that are being applied. There will be a volume effect. There would be a price effect. We are currently assessing what that effect is. I think everyone else is trying to.

The market is a bit unsettled at the moment. So we'll have to wait and get a better assessment of how the supply-demand mechanisms settle. And also how the trade routes actually settle to -- depending on the different products, low carbon, high carbon, ferromanganese and silicon manganese. I think it's just a complex picture at the moment.

Q: How will Gabon 2029 ban on manganese ore exports impact Eramet's turnaround strategy?

A: We have discussed this last time we met. We continue to work -- as you know, we have a long-standing presence in Gabon. We continue to work closely with the government there, with the players there. We see ways to work together, and we'll continue to work together. Manganese is an important part of our business. And we definitely are confident that we'll find ways to continue working and operating Gabon.

Q:  What happened to manganese this year? Were there new problems? Or were there problems that have been building gradually and which just came to ahead?

A: In general, when it comes to manganese, we did face challenges. We have faced challenges in the beginning of the year related to logistics, which have been largely resolved. The key focus for us going forward will be around unlocking capacity that we understand, we have been improving a lot of the practices at the mine in terms of planning, in terms of adherence to plans, making sure that we can manage grades in a much more effective manner. So this is very -- this is encouraging.

We continue to work on end-to-end planning because I think that's one area that there is room to improve. And again, the focus for the next coming years and also part of the improvement plan is going to be around our ability to accelerate the renewal of the track so that we can unlock the capacity that we know it's there.