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Extension of financial guarantees enabling SLN to continue to run its operations
Source: Nasdaq GlobeNewswire / 10 Apr 2024 17:30:00 America/New_York
Paris, 10 April 2024, 11:30 p.m.
PRESS RELEASE
Extension of financial guarantees enabling SLN to continue to run its operations
With a view to the signing of the Pacte Nickel (Nickel Pact), Eramet and the French State have reached an agreement to extend the financial guarantees granted to SLN, enabling SLN to continue to run its mining operations.
On April 10, 2024, following the Northern Province's refusal of the financial guarantees granted by Eramet until May 25, 2024, SLN hadanswered an injunction from the Northern Province to suspend activity at its mining sites located in the Northern Province (Népoui-Kopéto, Française, Tiébaghi, Kouaoua, Etoile du Nord, Stamboul, Boualoudjélima, Bonini) as soon as employees start work in the morning of April 11, and to start securing these sites.
Thanks to this agreement, activity at the mining sites located in the Northern Province can continue accordingly.
As a reminder, SLN has always operated with lodged financial guarantees. As part of its mining activities, SLN is required to provide financial guarantees to the relevant Caledonian provinces to ensure the restoration and rehabilitation of the mining sites after their definitive closure, should SLN be unable to conduct these operations.
Given its financial situation, SLN has been unable to provide these guarantees on its own since 2020. Since that date, and in accordance with the option given by the Mining Code, Eramet has replaced SLN to provide these guarantees, which represent off-balance sheet commitments. As was previously the case, these off-balance sheet commitments have no impact either on the Group's debt or cash position.
Calendrier
25.04.2024: Publication of 2024 first-quarter turnover
30.05.2024: Shareholders’ General Meeting
25.07.2024: Publication of 2024 half-year results
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 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
INVESTOR CONTACT
Director of Investor Relations
Sandrine Nourry-Dabi
T. +33 1 45 38 37 02sandrine.nourrydabi@eramet.com
PRESS CONTACTMedia Relations Manager
Fanny Mounier
+33 7 65 26 46 83
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