ERAMET

ERAMET is a French multinational mining and metallurgy group whose activities span the extraction, processing, refining, and transformation of non-ferrous metals and advanced alloys. Listed on Euronext Paris under the symbol ERA, the company has historical roots in nickel mining in New Caledonia and has developed into a diversified materials supplier serving steelmaking, stainless steel, aerospace, energy, transportation, and other industrial markets. The group’s principal mining businesses are manganese, nickel, and mineral sands. Through Comilog, ERAMET operates the large Moanda manganese mine in Gabon and processes manganese ore into products used primarily in steel production, as well as chemical and other industrial applications. Through Société Le Nickel (SLN), it mines nickel in New Caledonia, an operation with more than a century of history. ERAMET also has an interest in the Weda Bay Nickel operation on Indonesia’s Halmahera island, one of the world’s major nickel mining projects. Its mineral-sands activity in Senegal produces zircon and titanium-bearing minerals including ilmenite, rutile, and leucoxene. ERAMET’s downstream portfolio includes manganese transformation, nickel products, special steels, nickel-based superalloys, and forged or otherwise engineered components. The former Aubert & Duval organization was historically part of the group’s alloys business and supplied high-performance materials and components to demanding aerospace and energy applications before being sold to a consortium involving Airbus, Safran, and Tikehau Capital. The group has also pursued metallurgical and chemical processing capabilities in Europe, Asia, and North America, allowing it to serve customers beyond the locations of its mines. The company was established in 1880 with financial backing from the Rothschild family, which later took control in 1890. Its long presence in New Caledonia shaped the group’s identity, while the development of Gabonese manganese and international nickel operations broadened its resource base. ERAMET has more recently positioned itself around the energy-transition materials market, including battery-related nickel and lithium opportunities, while continuing to depend substantially on traditional industrial demand, especially stainless steel and carbon steel. ERAMET’s operations expose it to commodity-price volatility, heavy infrastructure requirements, permitting constraints, political risk, and complex environmental and social issues. The financial weakness of SLN became particularly acute during the global nickel-price decline in 2023, when ERAMET and the French government declined to provide the requested subsidy. The group has also faced criticism concerning the effects of mining in Indonesia on the territory of the uncontacted Hongana Manyawa, and concerning environmental degradation and community tensions associated with mineral-sands extraction in Senegal. In 2024–2025, ERAMET’s unsuccessful attempt to partner with Chile’s ENAMI on the Salares Altoandinos lithium project was followed by a legal dispute over access rights in the project area.

ERAMET was founded in 1880 with financing from the Rothschild family. Although the family avoided being formally identified as the company’s founders, it obtained full control in 1890. The group’s early and enduring identity was closely connected with nickel, particularly through Société Le Nickel, or SLN, whose mining activities in New Caledonia extend back more than a century. Over time, ERAMET expanded from a principally nickel-oriented business into a broader mining, metallurgy, and advanced-materials group. Its portfolio came to include non-ferrous metals and derivatives, special steels, nickel alloys, superalloys, and engineered products for technically demanding sectors. From 1907 until 2007, Aubert & Duval of Issoire formed part of ERAMET’s alloy organization. The business was ultimately sold to a consortium consisting of Airbus, Safran, and Tikehau Capital, separating a major high-performance-alloys and components activity from the group. Manganese became a second major pillar through Comilog’s operations in Gabon. The Moanda mine is a central source of manganese ore, which is processed in ERAMET facilities in Gabon and in transformation plants located in Europe, China, and the United States. These products support steelmaking and chemical applications. The combination of Gabonese manganese, New Caledonian nickel, and downstream metallurgy gave ERAMET a geographically distributed industrial structure. The group later built or participated in additional international operations. In Indonesia, its interests include PT Weda Bay Nickel on Halmahera island, a large nickel-mining operation. In Senegal, Eramet Grande Côte has extracted and processed heavy mineral sands since 2014, producing zircon and titanium-bearing minerals such as ilmenite, rutile, and leucoxene. ERAMET has also maintained a network of industrial sites across Europe, Asia-Pacific, North America, Latin America, and Africa. The company has periodically sought to extend its capabilities through partnerships. In 2012, Aubert & Duval joined Setforge and QuEST to establish SQUAD, a closed-die forging company in India. ERAMET has also pursued lithium and other energy-transition opportunities as demand for battery materials increased. Its attempted association with Chile’s ENAMI on the Salares Altoandinos lithium project was unsuccessful in 2024–2025 and was followed by a dispute over access rights. Governance has been led by Christel Bories as chairwoman and chief executive officer since 2017, according to the referenced company history. ERAMET remains listed on Euronext Paris. Its current strategic challenge is to balance commodity-price exposure and the capital intensity of mining with the potential growth of battery and transition materials. The group also faces scrutiny over ecological impacts, land rights, worker and community relations, and the long-term economic viability of operations in New Caledonia and other producing regions.

• 2025

  Access-rights dispute with ENAMI

  [1]Erameten.wikipedia.org

  The failed lithium-project association was followed by legal conflict concerning access rights in the project area.

• 2024

  Eramet loses Salares Altoandinos bid

  [1]Erameten.wikipedia.org

  ERAMET did not obtain the proposed association with Chile’s ENAMI for the Salares Altoandinos lithium project.

• 2023

  SLN faces intensified nickel-price pressure

  [1]Erameten.wikipedia.org

  A global nickel-price decline worsened SLN’s financial shortfalls, while ERAMET and the French government declined to subsidise it.

• 2017

  Christel Bories leads the group

  [1]Erameten.wikipedia.org

  Christel Bories became chairwoman and chief executive officer.

• 2014

  Eramet Grande Côte begins Senegal mineral-sands extraction

  [1]Erameten.wikipedia.org

  The Senegal operation began extracting and processing heavy mineral sands along the Atlantic coast north of Dakar.

• 2012

  SQUAD established in India

  [1]Erameten.wikipedia.org

  Aubert & Duval partnered with Setforge and QuEST to create SQUAD, a closed-die forging company in India.

• 2007

  Aubert & Duval ownership ends

  [1]Erameten.wikipedia.org

  After approximately 100 years in the group, Aubert & Duval was sold to a consortium involving Airbus, Safran, and Tikehau Capital.

• 1907

  Aubert & Duval becomes part of the alloys organization

  [1]Erameten.wikipedia.org

  Aubert & Duval began a century-long period within ERAMET’s alloy activities.

• 1890

  Rothschild family assumes control

  [1]Erameten.wikipedia.org

  The Rothschild family took full control of the company.

• 1880

  Company founded with Rothschild financing

  [1]Erameten.wikipedia.org

  ERAMET was established with financial backing from the Rothschild family.

A diversified international mining and metallurgy group combining upstream resource extraction with processing and high-performance metal products, with a strategic emphasis on manganese, nickel, and materials associated with the energy transition.

• Mining and metallurgy

  Manganese products

  ERAMET’s manganese business is centered on Comilog’s Moanda mine in Gabon. Ore is processed into manganese products for steelmaking and into chemical and other industrial derivatives. Transformation assets in Africa, Europe, China, and the United States connect the mine with international customers.

• Mining and refining

  Nickel products

  Nickel is produced through SLN’s long-established mining operations in New Caledonia and through ERAMET’s interests in Indonesia’s Weda Bay Nickel operation. The products primarily serve stainless-steel and broader industrial markets, while nickel’s battery relevance has encouraged additional strategic attention.

• Mining and minerals · 2014

  Mineral sands

  Eramet Grande Côte in Senegal extracts and processes heavy mineral sands. Its output includes zircon and titanium-bearing minerals such as ilmenite, rutile, and leucoxene, which are exported for use in ceramics, pigments, titanium-related applications, and other industrial markets.

• Advanced materials

  Special steels and superalloys

  ERAMET’s alloys activities have included special steels, nickel-based superalloys, and engineered metal products for aerospace, energy, and other applications requiring high strength, heat resistance, fatigue performance, or corrosion resistance.

• 2024

  Hongana Manyawa land and survival concerns

  Survival International and other campaigners have alleged that mining linked to Weda Bay Nickel threatens the territory and survival of the uncontacted Hongana Manyawa people on Halmahera island. Reports have described forest destruction, displacement pressures, and encounters involving requests for food.

  Source

• 2014

  Environmental and community criticism in Senegal

  Eramet Grande Côte’s heavy-mineral-sands operation has faced allegations of environmental degradation and community tension in the Grand Côte region north of Dakar.

  Source

Read more

• 2024

  Pursue Salares Altoandinos lithium partnershipStrategy

  Background

  ERAMET sought to expand into lithium and other energy-transition materials.

  Action taken

  The company bid to associate with Chile’s ENAMI on the Salares Altoandinos lithium project but did not win the opportunity.

  Aftermath

  The failed bid was followed by a legal dispute over access rights in the project area.

  Source

• 2023

  Decline to subsidise SLNStrategy

  Background

  A worldwide decline in nickel prices exacerbated Société Le Nickel’s financial shortfalls.

  Action taken

  ERAMET and the French government refused to subsidise SLN.

  Aftermath

  The decision left the New Caledonian nickel business under continued financial and operational pressure.

  Source

• 2012

  Create SQUAD forging venture in IndiaM&A

  Background

  The group sought to extend its forging capabilities and international industrial presence.

  Action taken

  Aubert & Duval partnered with Setforge and QuEST to establish SQUAD, a closed-die forging company in India.

  Source

• 2007

  Sell Aubert & DuvalM&A

  Background

  Aubert & Duval had been part of ERAMET’s alloys organization since 1907 and represented a major high-performance-materials activity.

  Action taken

  The business was sold to a consortium involving Airbus, Safran, and Tikehau Capital.

  Aftermath

  The transaction separated Aubert & Duval from ERAMET after roughly a century of group ownership.

  Source

• 2025

  Legal dispute follows Salares Altoandinos partnership failure[1]Erameten.wikipedia.org

  Lawsuit

  After the unsuccessful lithium-project bid, ERAMET became involved in a legal dispute with ENAMI concerning access rights in the project area.

• 2024

  Eramet loses bid for Chilean Salares Altoandinos lithium project[1]Erameten.wikipedia.org

  Other

  ERAMET failed to secure an association with Chile’s National Mining Enterprise for the Salares Altoandinos lithium project.

• 2023

  Nickel-price decline intensifies financial pressure on SLN[1]Erameten.wikipedia.org

  Pricing

  A worldwide fall in nickel prices worsened the balance-sheet problems of Société Le Nickel in New Caledonia. ERAMET and the French government refused to subsidise the loss-making operation.

1. 1Erameten.wikipedia.org
2. 2ERAMET official websiteeramet.com