The Eramet teams did not expect such a media hat. The mining group is however one of the few French companies to have been rented by Emmanuel Macron during his last television intervention. A rare privilege, and the sign of a change of attitude to the highest peak of the State. For several decades, France was hardly concerned with its metal supply. But in a world in full ecological transition, tossed by geopolitical conflicts, questions of sovereignty come back to the fore, giving Eramet a strategic importance.
“Since then, our group has always been positioned on the best mines in the world, places in which the reserves are important and the content of high ore,” says Christel Bories, the group’s CEO, who is about to give up his headquarters as general manager to Brazilian Paulo Castellari on May 27, while keeping the presidency. In Gabon, Eramet exploits the largest global manganese deposit. An essential material for batteries manufacturers, the construction sector (rails, beams) and that of the automobile (bodywork sheets, etc.).
Eramet also invests in Indonesia where it has 39 % of the largest nickel mine, a metal used in the design of stainless steel. Finally, the group extracted from nickel in New Caledonia and operates lithium in Argentina, where it has been deploying since last summer an innovative recovery process, twice higher than that of conventional methods.
An agreement with the State on New Caledonia
“We are perfectly armed to enjoy the boom on the batteries,” says Christel Bories, who, in eight years, has reshaped the business. “When I arrived, we were a metallurgical group. We refocused on the mines,” she explains. A paid strategy: during hollows, Eramet no longer needs to sell part of its assets. “In the past, at the bottom of the cycle, our result before taxes was around 250 million euros. Now, it is around 800 million euros. Our stock market is affected,” says Christel Bories. His successor will be responsible for making this heritage grow, while contributing to the sovereignty of France and Europe.
On the Caledonian nickel, an agreement was found last year: Eramet continues to operate the mines on site, through its SLN subsidiary, but the State is now taking charge of the losses. In 2024, the bill amounted to 250 million euros. “On site, under current conditions, there is no possible business model,” justifies Christel Bories. For years, the SLN factory has been in deficit. First for cost issues: that of the workforce would be ten times higher in New Caledonia than in Indonesia, and the price of energy three times higher.
The other obstacle to activity comes from the difficulties of access to the resource. A polished way of evoking social disorders of the island, which result in repeated degradations of equipment, administrative delays or limitations to the export of ore. The agreement signed between Eramet and the State makes it possible to safeguard employment on site and, possibly, to ensure a flow of production to the old continent.
Mainly Asian buyers
“Our contribution to French and European sovereignty is at the start of the value chain, in terms of deposits and resources. Regarding the approval of the chain, there is no constraint to supply Europe: we would be delighted, on the contrary, to sell to European buyers. But the reality is that we sell production where buyers are, mainly in Asia”, would like to recall a spokesperson for Eramet. Implied, to secure their supplies, Europeans would be well advised to build strategic partnerships with large mining countries, while developing the recycling of batteries.
However, on these two points, the machine patina. Behind the scenes, some experts evoke a possible alliance between France, Australia and Finland on metals, without anything concrete having yet emerged. As for recycling, it has had lead in the wing since Eramet suspended its factory project in Dunkirk, for lack of rise in the production of batteries in the EU. “The problem in Europe is that Eramet is an exception. We are sorely lacking in large mining groups,” said a specialist. Brussels may try to reverse steam with his list of 47 strategic projects, time is. And China inexorably pushes its pawns.
.