Eramet launches 500 million euro rights issue to cut debt

French miner Eramet has launched a 500 million euro capital increase through preferential subscription rights, offering six new shares for every five held at 14.49 euros each.

Why it matters: The issue is the funding leg of a balance sheet repair at one of Europe's main nickel and manganese producers, whose net debt rose 1.3 billion euros in 2025 on lower metal prices and the cost of entering lithium production.

Data as of Mining Weekly report of November 13, 2026, read in full via the estate browser route, reporting Eramet's announcement of the same day; single trade press source, with the terms as announced by the company. Developing item.

Eramet will issue 34.5 million new shares at 14.49 euros each, a ratio of six new shares for five existing shares, with the new shares expected to start trading on Euronext Paris on or about December 4. The French state holding agency, Agence des Participations de l’Etat, has committed to subscribe for 64 percent of the issue, or 322 million euros.

The company said the raise will improve cash generation and strengthen its balance sheet, above all by reducing debt. Net debt was 1.94 billion euros at the end of 2025, and Eramet aims to bring it down to between 1.6 billion and 1.7 billion euros, helped by asset sales that include undeveloped lithium concessions in Argentina, a minority stake in the Centenario-Ratones lithium operation and its 38 percent shareholding in Weda Bay Nickel.

Eramet launches 500 million euro rights issue to cut debt

Sources