Eramet Adjusts 2024 Projections for Manganese and Nickel Operations

Eramet, the mining and metallurgy company, announced revisions to its 2024 targets for manganese operations in Gabon and nickel operations in Indonesia due to unfavorable market conditions. In Gabon, a decline in carbon steel production in China led to reduced demand for high-grade manganese ore, while an oversupply of low-grade ore from South Africa further exerted pressure. Consequently, Eramet has revised its sales volume target for high-grade manganese ore to between 6.5 and 7.0 million tons, down from the previous target of 7.0 to 7.5 million tons.

In Indonesia, Eramet faced challenges related to nickel operations with the issuance of a revised permit limiting 2024 nickel ore sales to 32 million wet metric tons, affecting initial production targets. Despite these constraints, Eramet projects that financial impacts will be mitigated by increased premiums for nickel ore. This adjustment aligns with regulatory changes and aims for PT Weda Bay Nickel to maintain economic contributions to Indonesia's development.