Eramet SA

Eramet SA is a mid-tier nickel and lithium producer headquartered in Paris, France, operating primarily in Australia and Europe. The company's portfolio consists of 6 projects, comprising 4 operating mines, 1 development, and 1 advanced exploration project. Key assets include Moanda, Weda Bay, and Centenario. The business model centers on a dual-market strategy, supplying high-grade ores for global economic development while expanding into critical metals for the energy transition. Operational approach is defined by the Eramet Production System (EPS), a proprietary framework deployed across all subsidiaries to enhance productivity, improve safety, and maximize value from geological assets. The enterprise leverages in-house developed technologies, including a highly competitive direct extraction process, to unlock the potential of its world-class deposits. This technological advantage supports the production of premium solutions tailored to evolving market demands, including materials that enable customers to mitigate their own carbon impact. A diversified asset portfolio and a focus on operational excellence provide resilience against market cycles. The company's value creation is further supported by a responsible mining approach that integrates environmental and social management directly into its operational framework, aiming to achieve a positive impact on its broader ecosystem.

Strategic direction is anchored on 2 primary pillars: sustainably supporting global economic development and contributing to the energy transition. Growth in established markets is driven by expanding activities related to infrastructure and consumer goods, leveraging world-class assets to supply high-grade ores and alloys with a low carbon footprint. The second strategic focus is the expansion of the portfolio into metals essential for electrification and decarbonization, primarily through organic growth by enhancing the productivity and utilization of current assets. In the current economic context, management prioritizes productivity improvements over volume increases as a key lever for value creation. This is implemented through the group-wide deployment of the Eramet Production System (EPS). The 'Act for Positive Mining' roadmap serves as a core component of the strategy, embedding responsible practices and setting clear objectives for 2026 and 2035 to guide sustainable development and stakeholder engagement.

The Board of Directors consists of 18 members, with 7 of the 16 directors (excluding employee representatives) qualifying as independent, achieving a 44% gender balance. Governance is structured through 4 specialized committees: the CSR and Strategy Committee, the Audit, Risks and Ethics Committee, the Appointments Committee, and the Compensation and Governance Committee. These bodies provide oversight on key areas including strategic direction, financial reporting, risk management, and executive remuneration. A significant governance evolution is planned for 2025, with the separation of the Chair and Chief Executive Officer roles. The current Chair and CEO, Christel Bories, is expected to continue as non-executive Chair, while Paulo Castellari has been appointed to assume the role of Chief Executive Officer. This transition reflects a strategic shift in leadership structure to further enhance corporate governance. The board's work is guided by internal rules and a Directors' Charter, with an annual assessment process to ensure effectiveness.

The sustainability framework is driven by the 'Act for Positive Mining' roadmap, which sets 10 objectives for the 2024-2026 period. Key initiatives under this framework include the signing of the 'Eramet Global Care' agreement, establishing a common social protection floor for all employees worldwide. In its decarbonization efforts, the organization has conducted successful industrial trials using bioreducing agents derived from biomass as a substitute for fossil coke in its metallurgical furnaces. Community development is advanced through the 'Eramet Beyond' program, which partners with local stakeholders to foster employment and educational opportunities in regions surrounding its operations. The company has also committed to auditing all its mining sites against the Initiative for Responsible Mining Assurance (IRMA) standard. Demonstrating its commitment to marine ecosystem preservation, the enterprise has publicly renounced any engagement in underwater exploration and mining activities.

In 2024, the company acquired the remaining 49.9% interest in a key strategic joint venture from its partner, a major steel group, to gain full ownership of the asset. The corporate portfolio was refocused through the 2023 divestiture of the High Performance Alloys division, which included the sale of Aubert & Duval and Erasteel, as well as the separate sale of the Eramet Titanium & Iron plant to INEOS. A partnership with Électricité de Strasbourg continues for the joint study and development of a low-carbon extraction process. Conversely, a joint project with BASF to develop a refining plant was suspended in 2024, as was a separate battery recycling project. In 2022, a railway subsidiary, Setrag, underwent a capital increase that introduced Meridiam, a private infrastructure investor, and a state entity as new shareholders holding 40% and 9% stakes, respectively.