Eramet: share price rises following Bercy measures
April 12, 2024 at 10:57 am EDT
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On Friday, mining stocks were among the biggest gainers on the Paris Bourse, following the presentation by Bercy of a bill aimed at simplifying and accelerating mining procedures in France.
At around 4.30pm, Eramet was up 1.7%, ahead of industrial minerals specialist Imerys, which gained over 2.5%.
This morning, the French Ministry of the Economy unveiled a series of measures aimed at facilitating mining procedures, in particular with a view to supporting projects that are important from the point of view of energy transition or strategic security of supply.
In a press release, Bruno Le Maire, the French Minister of the Economy, and Roland Lescure, the French Minister of Industry, point out that the French subsoil abounds in many basic resources such as lithium and copper, but that these are still little exploited, notably because of the lengthy procedures involved.
Lithium is used in the manufacture of electric batteries, while copper is used in power grids, wind turbines and photovoltaic panels.
Bercy - which claims to be aiming for a genuine 'mining revival' - intends in particular to halve the time required to appraise research permits for geothermal energy, mining substances and CO2 storage to six-nine months, compared with 16 to 18 months today.
The bill will also open up the possibility of transforming and transferring liquid or gaseous hydrocarbon wells for underground CO2 storage.
Bruno Le Maire and Roland Lescure also plan to organize a major event dedicated to underground resources for the energy transition, to be held before the end of the year.
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Eramet, a global mining and metallurgical group, is a key player in the extraction and valorisation of metals (manganese, nickel, mineral sands) and the elaboration and transformation of alloys with a high added value (high-speed steels, high-performance steels, superalloys, aluminium and titanium alloys).
The group supports the energy transition by developing activities with high growth potential. These include lithium extraction and refining, and recycling.
Eramet positions itself as the privileged partner of its customers in sectors that include carbon and stainless steel, aerospace, pigments, energy, and new battery generations.
Building on its operating excellence, the quality of its investments and the expertise of its employees, the group leverages an industrial, managerial and societal model that is virtuous and value-accretive.
Net sales break down by family of products mainly between manganese (60.8%), nickel (30.6%), and mineralized sands (8.5%).
Net sales are distributed geographically as follows: France (1.3%), Europe (20.4%), China (31.1%), Asia (29%), North America (12.4%), Africa (2.3%), Oceania (2.2%) and South America (1.3%).