Eramet stock faces funding test as asset sales advance

Published on 11/11/2026 at 03:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Eramet stock faces a funding test as the miner seeks buyers for lithium and nickel stakes. A rights issue is planned by year-end.

Funding plan tests Eramet's recovery

Eramet is seeking investors for minority interests in its Centenario lithium project and Weda Bay Nickel.
The company targets adjusted EBITDA of EUR 540 million to EUR 610 million for 2026.
A planned EUR 500 million rights issue is intended to support deleveraging and future growth.

Eramet, FR0000131757, Illustration mit AI erstellt.

Eramet is seeking buyers for interests in its lithium and nickel assets as it works to repair its balance sheet and preserve funding for future growth. The development was reported by The Northern Miner on Monday, November 9, 2026.

Asset sales target leverage

Potential partners have shown interest in a minority stake in the Centenario-Ratones lithium operation in Argentina and in a substantial part of Eramet's 38.7 percent interest in Weda Bay Nickel in Indonesia. The company has not disclosed prospective buyers or valuations, and neither process is expected to generate proceeds before year-end.

Eramet is targeting an adjusted debt-to-earnings ratio below three by year-end, compared with 5.5 at the end of 2025. The plan combines asset sales with a EUR 500 million rights issue, spending restraint and operational improvements. The French state would become the company's largest shareholder if the capital increase proceeds.

Targets set against recovery plan

Eramet forecasts adjusted EBITDA of EUR 540 million to EUR 610 million in 2026, compared with EUR 372 million in 2025. Capital spending is expected to fall to between EUR 250 million and EUR 290 million from EUR 412 million last year. Adjusted free cash flow reached EUR 7 million in the first half of 2026 after a negative EUR 481 million in 2025.

The company also agreed to sell undeveloped Arizaro lithium concessions in Argentina for USD 71 million, with completion expected by year-end. Centenario reached full production capacity in October, while planned expansion remains subject to financing and investment decisions.

Business and competitive position

Eramet is a French mining and metals group focused on manganese, lithium and nickel. Its operations span manganese in Gabon, lithium in Argentina and nickel in Indonesia, giving it exposure to several critical-metals supply chains. The company is more diversified by commodity and geography than a single-asset producer, but its recovery remains sensitive to metal prices, permits and project execution.