Eramet (EPA:ERA) is in talks to sell stakes in its lithium and nickel mining operations in Argentina and Indonesia as part of efforts to shore up its finances, the French company said on Monday.
The nickel, manganese, and lithium producer had announced in February plans for a capital increase and possible sales of stakes in certain assets.
Eramet has received interest from several potential partners looking to take a minority stake in its Centenario lithium operation in Argentina, it said in a statement.
Eramet also said several investors have shown interest in taking a “significant portion” of the group’s minority stake in the Weda Bay nickel site in Indonesia.
Separately, Eramet has agreed to sell undeveloped lithium mining concessions in the Arizaro salt flat in Argentina for US$71 million ($103.13 million), with the deal expected to close by the end of the year.
For Centenario, Eramet forecast long-term production potential of 150,000 tonnes per year of lithium carbonate equivalent, up from current capacity of 24,000 tonnes.
In addition to a recently announced US$350 million plan to add another 11,000 tonnes, Eramet has launched studies regarding two new facilities with capacity of 50,000 tonnes each.
For its manganese business in Gabon, Eramet is studying a possible US$40 million investment to develop a manganese oxide production plant with annual capacity of 60,000 tonnes.
Eramet also unveiled 2027 targets, including increased production levels.
(Reporting by Gus Trompiz; Editing by David Goodman)
