Eramet: “very advanced talks” with the State regarding the SNL

Photo credit © © David Becker / ERAMET

( — Eramet climbs 3% to 61.7 euros after its annual publication this Thursday… The mining group has also announced that it is in “very advanced talks” with the French government to remove several hundred million euros of debt from its balance sheet linked to its loss-making nickel subsidiary, SLN (Société Le Nickel), in New Caledonia. The discussions between the mining group and the French state are part of broader negotiations aimed at safeguarding the nickel industry in New Caledonia, currently in difficulty.

Eramet, which has refused to inject more funds into SLN, is aiming for an agreement in the coming weeks with the state to remove 320 million euros of SLN debt from its own balance sheet, told the press Christel Bories, president and CEO, without giving further details. The debt includes a new loan of 60 million euros granted to SLN by the French government this month. This loan should allow SLN to continue its activities at least until April, the manager said during the conference call on the results. Beyond discussions on debt, Eramet remains open to different longer-term options for SLN, she added…

Discussions well advanced

A spokesperson for the French Ministry of Economy and Finance said on Thursday that SLN’s debt was among the issues discussed with Eramet and that discussions were “well advanced”…

As part of its annual publication, Eramet indicated that its financial performance for the first half of the year is expected to be significantly below that of H2, taking into account unfavorable seasonality, but also market prices which are not expected to rebound before the second. part of the year. An “ambitious and controlled” capex plan has been put in place, of around 700 ME to 750 ME, financed by the Group in 2024, in order to support the growth of activities and prepare for the future.


Please note, our “Rumors” section aims to echo the information circulating in the trading rooms. These rumors cannot be verified, so they should be considered with caution.

Source link -87