Eramet is attracting interest from the investment fund Orion CMC

The French mining group Eramet could see new investors join its capital. According to information from the Financial Times, the investment fund Orion Critical Mineral Consortium (Orion CMC) is interested in acquiring a portion of the shares held by the Duval family, the group's main private shareholder. This possibility comes a few weeks after the green light was given to a €500 million capital increase intended to strengthen the company's financial position.

Last year, Eramet recorded a net loss exceeding €450 million, penalized by falling prices for several raw materials and a challenging international environment for the mining sector. However, the group remains a strategic player for France thanks to its activities in manganese, nickel, and metals essential to the energy transition.

An operation closely monitored by the French state

The potential arrival of Orion CMC raises questions about control of a group considered strategic. The French state holds nearly 27% of Eramet's capital and could play a decisive role in any changes to the shareholding structure. At this stage, neither the Duval family nor Eramet has confirmed the existence of discussions regarding a sale of its stake.

Founded in 2025, Orion CMC pools American and Emirati capital with the aim of securing access to critical minerals used in the technology and energy industries. The fund has already made its mark in Africa by signing an agreement allowing it to acquire up to 40% of certain mining assets of Glencore in the Democratic Republic of Congo. The interest shown in Eramet reflects the growing competition for strategic resources, which have become a major issue of economic and industrial sovereignty for major powers.