Latest news for Eramet (OTC:ERMAF) Stock

Eramet SA is a French mining and metallurgical company focused on the extraction, production, and sale of alloying metals, principally Manganese, Nickel, Mineral Sands, and Lithium. The company is also engaged in the production and transformation of alloys. Manganese constitutes nearly half of Eramet's revenue, followed by Nickel. Geographically, the majority of the company's revenue is generated from Asia and the rest from Europe, North America, France, and other regions.

Work,Of,Heavy,Equipment,In,An,Open,Pit,For,Gold

Large Cap

News

Commodities

Events

ERMAF

GLCNF

Concerns over supply disruptions from New Caledonia, combined with sanctions on Russian metal, have pushed prices above $20,000 per ton.

Nickel Crisis Fuels Unrest In New Caledonia, Pushes Prices Above $20,000 Per Ton

lithium argentina shutter

Latin America

Financing

French mining company Eramine, a subsidiary of Eramet, announced a $800 million investment in Argentina&#39;s Salta province.

Eramet&#39;s $800M Lithium Investment A Vote Of Confidence For Argentinian Economic Turnaround

Movers & Shakers

Intraday Update

Markets

Movers

Trading Ideas

General

AAWW

ABMD

ACAN

ACRGF

ADAP

ADPT

ADRO

AIHS

AKCA

ALBO

ALKS

ALNA

AMTD

ANDE

ANGI

ANGO

AOBC

ARHVF

ASMB

ASRT

ASTC

Adtalem Global Education Inc. Common Stock

ATGE

AUPH

AUSAF

AVGR

AWLCF

AWSM

AXGN

BABYF

BCOR

BEAT

BERY

BGFT

BICX

BKCC

BLUE

BMRN

BNFT

BOCH

BOMN

BORR

BOSSY

BREW

BTHCF

BTKRF

BYZN

CADMF

CBDS

CBIIF

CCHWF

CDBMF

CDTI

CEIX

CHNC

CHOOF

CHRA

CHWY

CLVS

CLXT

CNNXF

CNONF

CRBP

CRVS

CSLT

CSTL

CTMX

CTRA

CTST

CVVUF

CWBR

CXXIF

CYTR

DFFN

DIIBF

DLPH

DNOW

DRIO

DTIL

DXBRF

EEVVF

EGRNF

ELGX

ELOX

EMERALD HEALTH THERAPUTCS by Emerald Health Therapeutics Inc.

EMHTF

ENBL

Stocks That Hit 52-Week Lows On Wednesday

Eramet SA

Eramet

Holding 20% to 30% of the world&#8217;s nickel reserves, New Caledonia&#8217;s economy heavily relies on its production. 



However, concerns over supply disruptions from New Caledonia, combined with sanctions on Russian metal, have pushed prices on the London Metal Exchange back above $20,000 per ton for the first time since September.



Nickel is indispensable for manufacturing stainless steel and is crucial for low-carbon technologies such as electric vehicle (EV) batteries, wind turbines, and solar panels. 



See Also:<a href="https://www.benzinga.com/" target="_blank" rel="noreferrer noopener"> </a><a href="https://www.benzinga.com/markets/asia/24/05/38901601/zijin-mining-sets-ambitious-50-growth-target-for-copper-production-by-2028" target="_blank" rel="noreferrer noopener">Zijin Mining Sets Ambitious 50% Growth Target For Copper Production By 2028</a>



Despite its potential, the territory&#8217;s nickel industry is in crisis, with <a href="https://www.benzinga.com/news/24/01/36737765/nickels-nosedive-40-yearly-drop-puts-miners-in-a-tight-spot">prices falling</a> over 45% in 2023, <a href="https://www.benzinga.com/news/22/03/26197923/nickel-hits-limit-down-again-on-london-metal-exchange-falls-12-cnbc">plummeting</a> to around $19,000 per ton, below the estimated production cost of $22,000 per ton.



&#8220;Nickel is the curse of New Caledonia,&#8221; commodities economist Philippe Chalmin said <a href="https://www.bfmtv.com/economie/pour-le-specialiste-philippe-chalmin-le-nickel-caledonien-illustre-la-malediction-des-matieres-premieres_AV-202405150407.html">for</a> BFM TV, highlighting the territory&#8217;s overreliance on this single resource as the industry employs a quarter of the territory&#8217;s workforce.



Global nickel prices have been pressured by Indonesia's rapid production expansion, heavily financed by China. 



In contrast, New Caledonia's production has stagnated. Glencore&#8216;s (OTCPK: GLCNF) closure of the Koniambo Nickel plant has further strained local communities, particularly in the pro-independence Northern Province. 



French miner Eramet SA (OTCPK: ERMAF) has also significantly reduced its operations. 



Now Read: <a href="https://www.benzinga.com/news/24/05/38892646/thieves-are-stealing-copper-cables-from-tesla-charging-stations-amid-sky-high-prices-for-vital-metal">Thieves Are Stealing Copper Cables From Tesla Charging Stations Amid Sky-High Prices For Vital Metal</a>

Argentina&#8217;s abundant lithium reserves attract substantial foreign investments and are considered a <a href="https://www.benzinga.com/topic/lithium">potential economic recovery catalyst</a>. 



French mining company Eramine, a subsidiary of Eramet (OTCPK: ERMAF), announced a $800 million investment in Argentina's Salta province as the nation navigates ongoing negotiations with the International Monetary Fund (IMF) and the <a href="https://www.benzinga.com/topic/lithium">lithium market</a> looks to regain its footing after a prolonged slump.



Lithium is a key component in batteries for electric vehicles and various electronic devices, making it a valuable resource in the shift toward renewable energy. 



Argentina is part of the &#8220;Lithium Triangle,&#8221; a region encompassing parts of Argentina, Chile, and Bolivia, containing 65% of the world&#8217;s lithium reserves.



Eramine&#8217;s project in Salta could export around <a href="https://www.eramet.com/en/activities/centenario-lithium-argentina/">4,000 tons of lithium in 2024</a>, with production ramping up to 24,000 tons per year as the project reaches full capacity. This site will generate substantial revenue for Argentina and create employment opportunities, helping alleviate the country&#8217;s unemployment rate.



See Also: <a href="https://www.benzinga.com/news/events/24/04/38190880/exclusive-lithium-market-faces-daunting-supply-demand-challenge-says-nevada-lithium-ceo">EXCLUSIVE &#8211; Lithium Market Faces &#8216;Daunting&#8217; Supply-Demand Challenge, Says Nevada Lithium CEO</a>



In addition to Eramine&#8217;s project, Emirati company United Mining Projects Corporation (UMPC) announced a $550 million investment in a lithium project in Catamarca, as reported <a href="https://www.iprofesional.com/negocios/404289-emiratos-arabes-busca-empleados-para-empresa-de-litio-en-argentina">by</a> iProfesional. 



Marhen Lithium, their subsidiary, will lead this initiative, generating an estimated 700 jobs during the construction phase and 200 permanent positions. The project is expected to contribute USD 168 million to the local economy.



Beyond the immediate economic benefits, this project has the potential to serve as a model for future endeavors. By prioritizing responsible development practices and community engagement, UMPC can help mitigate some of the concerns surrounding resource extraction in Argentina, including environmental protection and domestic labor inclusion.



The IMF <a href="https://www.imf.org/en/Countries/ARG">forecasts</a> a 2.8% contraction in Argentina&#8217;s GDP for 2024, with high inflation persisting. However, they project a significant deceleration in inflation to 45% by 2025. While the IMF acknowledges the current economic contraction as a consequence of the government&#8217;s adjustment measures, it anticipates a turnaround next year. 



Still, Argentina&#8217;s economic outlook remains uncertain, with much hinging on the government&#8217;s ability to manage inflation, secure an IMF deal, and create a favorable climate for domestic and foreign investment.



Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get started!



Now Read: <a href="https://www.benzinga.com/m-a/24/04/38336936/saudi-arabia-near-deal-for-stake-in-gold-copper-mine-project-in-pakistans-troubled-province">Saudi Arabia Near Deal For Stake In Gold, Copper Mine Project In Pakistan&#8217;s Troubled Province</a>

Eramet's $800M Lithium Investment A Vote Of Confidence For Argentinian Economic Turnaround

Comments

Eramet

News

Latest news for Eramet (OTC:ERMAF) Stock

Tuesday, May 21, 2024

Monday, April 22, 2024

Wednesday, October 02, 2019

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga