Eramet obtains exploration permits for mineral sands in Cameroon

Paris, 29 November 2019, 6:00 pm

PRESS RELEASE

Eramet obtains exploration permits for mineral sands in Cameroon

After a call for bids launched in September 2018, the Cameroonian Ministry of Mines, Industry and Technological Development has granted the Eramet Group three-year exploration permits on the rutile block of Akonolinga.

These permits will allow the Eramet teams to conduct the necessary fieldwork and feasibility studies in order to obtain a mining convention. Preliminary exploration campaigns were conducted in the area located in the central region of Cameroon, and identified a strong potential for rutile, a mineral sand composed of titanium, used essentially in the production of pigments.

This project would provide a diversification of the Group product portfolio on the rutile market, which is particularly attractive and would reinforce the mineral sands activities currently operated in Senegal. This development is fully in line with Eramet’s strategy to develop a diversified portfolio of assets through mining exploration on the Group’s strategic metals and in new countries.

This new set up of Eramet in Cameroon will reinforce its footprint in Africa, where it is already strongly involved through its operations in Gabon and Senegal. Beyond this first success, and as part of an approach based on a long-term partnership with the Cameroonian government, Eramet wishes to identify other opportunities in the country for metals already operated by the Group, especially nickel and cobalt.

Our development strategy for all of Eramet’s subsidiaries is based on a strong and lasting establishment in its host countries, built on a partnership-based approach with all stakeholders. As a responsible, committed and contributory company, Eramet develops its projects according to the best international standards in terms of environment, society and ethics. Eramet is committed to a responsible continuous improvement approach in order to place Corporate Social Responsibility at the heart of its activities.

Calendar

19.02.2020: Publication of 2019 annual results

20.02.2020: Webcast & 2019 annual results presentation

28.04.2020: Publication of 2020 first-quarter sales

ABOUT ERAMET

Eramet, a global mining and metallurgical group, is a key player in the extraction and valorisation of metals (manganese, nickel, mineral sands) and the elaboration and transformation of alloys with a high added value (high-speed steels, high-performance steels, superalloys, aluminium and titanium alloys).

The Group supports the energy transition by developing activities with high growth potential. These include lithium extraction and refining, and recycling.

Eramet positions itself as the privileged partner of its customers in sectors that include carbon and stainless steel, aerospace, pigments, energy, and new battery generations.

Building on its operating excellence, the quality of its investments and the expertise of its employees, the Group leverages an industrial, managerial and societal model that is virtuous and value-accretive. As a contributive corporate citizen, Eramet strives for a sustainable and responsible industry.

Eramet employs around 13,000 people in 20 countries with sales of approximately €4 billion in 2018.

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