Eramet targeted by a financial fraud

Paris, 21 December 2021, 8:30 a.m.   

PRESS RELEASE

Eramet targeted by a financial fraud

Eramet has identified a financial fraud within its central treasury management.

Eramet has immediately initiated the necessary investigations and mobilized all internal and external resources required to terminate these fraudulent activities and take remedial action.

Eramet will file a criminal complaint with the authorities and has taken immediate disciplinary measures against the identified staff. The Group will also take all possible measures to reduce the impact of this fraud on its accounts.

The financial impact of this fraud is currently estimated at EUR 45 million, before insurance or implementation of legal action. It will be accounted for in the operating profit for financial year 2021.

Eramet’s Board of Directors has been informed of the situation and, with the assistance of the Audit Committee, will regularly monitor the progress of investigations and the implementation of corrective measures.

In addition to all existing controls, Eramet will examine all additional measures to further strengthen its internal control procedures and prevent such fraudulent acts.

Calendar

23.02.2022: Publication of 2021 annual results

28.04.2022: Publication of 2022 first-quarter turnover

ABOUT ERAMET

Eramet transforms the Earth’s mineral resources to provide sustainable and responsible solutions to the growth of the industry and to the challenges of the energy transition.

Its 13,000 employees are committed to this through their civic and contributory approach in all the countries where the mining and metallurgical group is present.

Manganese, nickel, mineral sands, lithium, and cobalt: Eramet recovers and develops metals that are essential to the construction of a more sustainable world.

As a privileged partner of its industrial clients, the Group contributes to making robust and resistant infrastructures and constructions, more efficient means of mobility, safer health tools and more efficient telecommunications devices.

Fully committed to the era of metals, Eramet’s ambition is to become a reference for the responsible transformation of the Earth’s mineral resources for living well together.

www.eramet.com

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