(Update: reaction on the stock market)
PARIS (Agefi-Dow Jones) – The mining group Eramet announced on Tuesday that it had identified a financial fraud within its cash management at the group’s headquarters.
“Eramet will lodge a complaint with the criminal authorities and has taken the disciplinary measures with immediate effect against the identified personnel,” the group said in a statement.
The company added that it immediately “carried out the necessary investigations, mobilized all the internal and external resources required to put an end to these fraudulent activities and initiated remedial actions”.
The mining group estimated the impact of this fraud at 45 million euros before insurance and the implementation of legal actions. This impact will be recognized in the group’s operating income for 2021. Eramet also assured that it would take all possible measures to reduce this impact on its accounts.
Following this announcement, the Eramet share yielded 1.1% to 69.60 euros in the first exchanges on the Paris Stock Exchange.
“The board of directors of Eramet has been informed of the situation and will follow, with the assistance of the audit committee, on a regular basis, the progress of the investigations and the implementation of the corrective measures”, indicated the company.
“In addition to all the existing controls, Eramet will examine any additional measures to further strengthen its internal control system and prevent such fraudulent acts,” the company continued.
-Julien Marion, Agefi-Dow Jones; +33 (0) 1 41 27 47 94; [email protected] ed: VLV
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December 21, 2021 03:09 ET (08:09 GMT)