Eramet Earmarks $2 Billion for Nickel and Lithium Expansion
- French miner positioning for soaring EV battery-metal demand
- Investment to boost output at Indonesian, Argentinian projects
The SLN nickel factory operated by Eramet group in Noumea, New Caledonia.
Photographer: Ludovic Marin/AFP/Getty Images
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French miner Eramet SA plans to invest €1.9 billion ($2 billion) in the 2024-26 period, largely to boost production of nickel and lithium as it bets on soaring demand for metals used in electric-vehicle batteries.
Miners around the globe are launching a flurry of projects to extract key metals needed for the transition to a low-carbon economy. By 2032, nickel demand for batteries is expected to surpass demand for stainless steel, Eramet said in a statement ahead of its capital markets day Monday.