French mining group Eramet has agreed to sell undeveloped lithium concessions in Argentina for $71 million, as it pursues a broader plan to strengthen its finances while retaining investment options in lithium, manganese and nickel. Eramet said the signed sale is expected to close before the end of 2026, subject to customary conditions.
Asset sales and financing
The deal covers 10 concessions spanning nearly 33,000 hectares in the Arizaro salar. Eramet expects proceeds of close to €60 million after taxes, but the transaction has not closed and the money has not yet been received.
The group is also exploring the sale of a minority stake in its Centenario lithium business in Argentina and a significant share of its minority interest in PT Weda Bay Nickel in Indonesia. Neither process has produced a definitive agreement, and Eramet does not expect proceeds from those sales in 2026.
Separately, Eramet is preparing an equity capital increase to support a broader deleveraging plan. The portfolio reshuffle reflects producers’ effort to balance growth in strategic minerals with financial discipline. Selling non-core land could provide liquidity without requiring Eramet to give up its largest operating lithium asset, while downstream production and overseas expansions would require substantial additional capital.
Targets and project conditions
Eramet reaffirmed its 2026 adjusted earnings guidance of €540 million–€610 million and capital expenditure guidance of €250 million–€290 million. It projects spending of €280 million–€320 million in 2027; the outlook depends partly on operational improvements and successful execution of the financing plan.
The group is targeting 2027 lithium carbonate output of 20,000–24,000 tonnes of lithium carbonate equivalent. It projects manganese ore shipments from Gabon of 6.8 million–7.3 million tonnes. Eramet said the Centenario plant reached its nameplate production rate during October, excluding maintenance-related stoppages.
A phased capacity increase at Centenario remains under study and is subject to feasibility work, capital availability and a final investment decision. In Gabon, Eramet has continued technical studies into manganese-processing opportunities that could serve steel and battery-material supply chains. The company’s longer-term processing plans remain conditional on a stronger balance sheet and bankable project economics.
For investors, the next tests include completion of the Arizaro disposal, the terms of Eramet’s planned share issue and progress on the separate sale negotiations.
