French mining and metals group Eramet signed an agreement on 9 November to sell its undeveloped Arizaro lithium concessions in Argentina for about €64 million gross, the company said. It expects approximately €60 million in net proceeds if the sale closes before the end of 2026, as it seeks to strengthen its finances.
Asset sales and liquidity
The transaction covers ten concessions spanning almost 33,000 hectares. Eramet has not yet received the proceeds, which it expects to realise following completion before the end of 2026.
The group is also evaluating a sale of a minority stake in its Centenario lithium operation in Argentina and the disposal of a substantial portion of its 38.7% holding in PT Weda Bay Nickel, an Indonesian company. Neither discussion has resulted in a signed sale agreement, and investor interest in the assets is not binding financing or cash available to Eramet.
Eramet plans to launch a capital increase before year-end, backed by an earlier strategic agreement involving the French state shareholder and Sorame-CEIR. The planned equity transaction has not been completed.
Without the capital increase, Eramet projected year-end liquidity above €1.1 billion; if it succeeds, liquidity could exceed €1.6 billion. The company maintained its 2026 adjusted EBITDA guidance of €540 million to €610 million and is placing more emphasis on cash generation from existing assets to preserve capacity for future investment.
Lithium and processing projects
At Centenario in Argentina, Eramet reported that its lithium carbonate plant reached nameplate production capacity in October, with no maintenance-related stoppages during the month. Cash production costs were below approximately €5,375 per tonne of lithium carbonate equivalent, according to the company’s latest update.
Longer-term development studies indicate potential output of nearly 150,000 tonnes a year at the Argentine lithium complex. The near-term concept comprises two brownfield expansions with annual capacities of 11,000 tonnes and 17,000 tonnes. Additional greenfield capacity is under study, and the expansion concepts remain development options, not approved construction projects.
In Gabon, Eramet is progressing engineering work with national authorities on a proposed manganese oxide processing plant. The project is designed for annual capacity of 60,000 tonnes and has estimated investment of €35.8 million, but remains subject to technical assessment and a final investment decision.
Eramet’s French ownership gives these developments direct relevance to European industry. The company’s plans reflect the challenge of securing future battery-material supplies while financing capital-intensive processing projects. Completion of the Arizaro sale and the proposed capital increase would reinforce liquidity, but neither should be counted as funding received before closing. Future industrial decisions will depend on how the group converts its restructuring plans and operating progress into investable capacity.
