(AOF) – Eramet is among the biggest increases in the SBF 120 (+2.63% to 72.10 euros). The mining and metallurgical company and Suez (leader in circular solutions in water and waste) have chosen Dunkirk to install their future industrial complex for recycling lithium-ion electric vehicle batteries. This project will make it possible to valorize the strategic metals making up batteries in a closed loop and will contribute to securing supplies of metals necessary for the energy transition in Europe. The group also sells its Norwegian subsidiary to Ineos Enterprises.
The project includes an upstream dismantling plant and a downstream metal extraction plant.
The final investment decision for the project should be made by the end of 2023 for the upstream plant, for start-up of the site in 2025, and by the end of 2024 for the downstream plant, for start-up in 2027.
Eramet and Suez have chosen the seaport of Dunkirk as the location for their joint ReLieVe project.
This project involves the construction of two facilities.
The first concerns an “upstream” battery dismantling and blackmass production plant with a capacity of 50,000 tonnes of battery modules per year, or the equivalent of 200,000 electric vehicle batteries.
The second concerns a “downstream” hydrometallurgy plant to extract and refine the strategic metals contained in blackmass (nickel, cobalt, lithium), allowing their reuse for the production of new batteries.
Eramet sells its Norwegian subsidiary to Ineos Enterprises
The day before, Eramet announced that it had sold its Norwegian subsidiary Eramet Titanium & Iron for a value of $245 million. A decision which follows the unilateral offer received from Ineos Enterprises on July 25, 2023.
The transaction thus completed is final and is no longer subject to any conditions, all regulatory authorizations having been obtained by Ineos Enterprises prior to Eramet’s acceptance of the offer received.
ETI is a Norwegian plant processing ilmenite into titanium dioxide slag for the pigment industry. It also produces high purity cast iron for the European foundry market.
This sale, with immediate effect, allows Eramet to strengthen its balance sheet and will contribute to financing its projects in the metals necessary for the energy transition.
The agreement between Eramet and Ineos Enterprises also includes a long-term supply contract for ilmenite produced by Grande Côte Opérations, the Group subsidiary which operates the mineral sands mine in Senegal.
© 2023 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
