Eramet Explained

Eramet S.A.
Type:	Société Anonyme
Traded As:	CAC Mid 60 Component
Predecessor:	Société de Traitement des Minerais de Nickel, Cobalt et Autres Higginson et Hanckar
Foundation:	18 May 1880
Location:	Paris, France
Key People:	Christel Bories (Chairman and CEO)
Industry:	Basic resources
Products:	Mining and extraction of manganese, steel alloys and nickel
Revenue:	€3,652 million (2017)^[1]
Operating Income:	€608 million (2017)
Net Income:	€203 million (2017)
Assets:	€3.269 million (end 2017)
Num Employees:	12,590 (end 2017)^[2]

Eramet is a French multinational mining and metallurgy company, listed on the Euronext Paris exchange under the symbol ERA.

The company produces non-ferrous metals and derivatives, nickel alloys and superalloys, and high-performance special steels.

Through its subsidiary Société Le Nickel (SLN),^[3] the company has its historical roots in nickel mining, and for over 100 years has maintained a large mining operation in the French overseas territory of New Caledonia. It is also a major producer of manganese from mines in Gabon.

Eramet's chairman and CEO as of 2017 was Christel Bories and its headquarters is in Paris.^[4]

History

The company was founded with the funding of the Rothschild family (although they were careful to avoid being listed as founders of the company) in 1880. With discretion, the family took full control of the company in 1890.^[5]

Between 1907 and 2007 the Aubert & Duval organization of Issoire France was owned by Eramet and formed part of its alloy division. The subsidiary was purchased by a consortium of Airbus, Safran and Tikehau Capital.^[6]

In 2023, a worldwide fall in nickel prices exacerbated shortfalls in SLN's balance sheets, with ERAMET and the French government refusing to subsidise SLN.^[7]

Activities

Eramet is organised into three activities:

• ERAMET Manganese (48% of the group's turnover):^[8] Eramet's subsidiary Comilog extracts manganese in the Moanda mine in Gabon and then transforms it in its metallurgical and chemical factories located in China, in Europe and in the United States.^[9]
• ERAMET Alloys (32% of the group's turnover): Eramet elaborates special steels and superalloys as well as wrought pieces for the aeronautical and energy sectors.^[10]
• ERAMET Nickel (20% of the group's turnover): Eramet's subsidiary, Le Nickel-SLN extracts nickel in five mines in New Caledonia, mainly to produce stainless steel.^[11]

Global presence

Eramet’s 47 sites are divided across the five continents as follows:

• 22 in Europe, among which 13 in France
• 13 in Asia and Pacific
• 7 in North America
• 2 in Latin America
• 4 in Africa

Joint Ventures

• In 2012 Eramet subsidiary Aubert & Duval teamed up with Setforge and QuEST to start SQUAD, a closed-die forging company in India^[12]

Corporate governance

Christel Bories, Eramet’s CEO, is at the head of the Board of Directors, which comprises nineteen members appointed for four years.^[13]

The Executive Committee has eight members.

External links

• • Eramet rethinks its African mining strategy, Africa Intelligence, June 9, 2023 (requires free registration)

Notes and References

1. Web site: Full-year results 2017 . 21 February 2018 . Eramet . https://web.archive.org/web/20180222043854/http://www.eramet.com/en/system/files/cp/eramet_2017_annual_results.pdf . 22 February 2018 . dead .
2. Web site: ERAMET Results for 2017 : lights are green . 21 February 2018 . Eramet . https://web.archive.org/web/20180222043841/http://www.eramet.com/en/news/eramet-results-2017-lights-are-green . 22 February 2018 . dead .
3. http://www.sln.nc/ Société Le Nickel
4. Web site: A new governance cycle starts for ERAMET with Christel Bories' appointment. 24 February 2017. www.eramet.com. https://web.archive.org/web/20171230114453/http://www.eramet.com/en/news/new-governance-cycle-starts-eramet-christel-bories-appointment. 30 December 2017. 29 December 2017. dead.
5. Book: The Cambridge History of the Pacific Islanders . Land, Labour and Independent Development . 173 . Denoon . Donald . Denoon . Donald . 1997 . Cambridge University Press . 0-521-44195-1.
6. News: About: AUBERT & DUVAL, ENHANCING YOUR PERFORMANCE . 3 April 2021 . Aubert & Duval.
7. Web site: France seeks deal to salvage New Caledonia's nickel sector . 29 November 2023 .
8. Web site: Our key figures. eramet.com. https://web.archive.org/web/20180718115252/http://www.eramet.com/en/about/our-group/our-key-figures. 18 July 2018. 10 February 2018. dead.
9. Web site: Our activity. https://web.archive.org/web/20180718114550/http://www.eramet.com/en/our-activities/extracting-generating-value/manganese/our-activity. 18 July 2018. 10 February 2018. dead.
10. Web site: Alloys-Our activity. https://web.archive.org/web/20180718115156/http://www.eramet.com/en/our-activities/developing-designing-transforming/alloys/our-activity. 18 July 2018. 10 February 2018. dead.
11. Web site: Nickel-Our activity. https://web.archive.org/web/20180718115239/http://www.eramet.com/en/our-activities/extracting-generating-value/nickel/our-activity. 18 July 2018. 10 February 2018. dead.
12. News: https://www.aubertduval.com/wp-media/uploads/sites/2/pdf/2012_01_17_SQuAD_Press_Release_.pdf.
13. Web site: Our Management. https://web.archive.org/web/20180718115309/http://www.eramet.com/en/about/our-organization/our-management. 18 July 2018. 10 February 2018. dead.