French state to become Eramet’s largest shareholder in €500m capital raise

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  The French state will become Eramet’s largest shareholder after increasing its stake through a €500 million capital raise.

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  The state, which already owns about 27% of the mining group, will subscribe to its share of the raise and may buy some or all of the Duval family’s subscription rights.

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  The state’s final stake will not exceed 49%, to avoid nationalising the group.

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  Eramet has faced financial difficulties since 2025.

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  The operation is expected to be completed between late October and the end of the year.

Who

The French state and mining group Eramet; the Duval family is the group’s other major shareholder.

What

The state will increase its stake in Eramet through a €500 million capital raise and become its largest shareholder.

When

Announced on 12 October 2026. Completion is expected between late October and the end of the year.

Where

Eramet, a French mining group.

Why

Eramet has faced financial difficulties since 2025.

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