Paris, December 21, 2021, 8:30 a.m.
Eramet Target of financial fraud
Eramet has discovered a financial fraud in the central treasury management.
Eramet immediately initiated the necessary investigations and mobilized all internal and external resources necessary to stop these fraudulent activities and take remedial action.
Eramet will file a criminal complaint with the authorities and took immediate disciplinary action against the identified employees. The Group will also take all possible steps to reduce the impact of this fraud on its accounts.
The financial impact of this fraud is currently estimated at EUR 45 million with no insurance or legal action taken. It will be taken into account in the operating result for the 2021 financial year.
The Board of Directors of Eramet has been informed of the situation and, with the support of the Audit Committee, will regularly monitor the progress of the investigations and the implementation of corrective measures.
In addition to any existing controls, Eramet will review all additional measures to further strengthen its internal control procedures and prevent such fraudulent activities.
February 23, 2022: Publication of the 2021 annual results
April 28, 2022: Publication of the first quarterly sales 2022
Eramet converts the earth’s natural resources in order to offer sustainable and responsible solutions for the growth of industry and the challenges of the energy transition.
The 13,000 employees in all countries in which the mining and smelting group is present are committed to this through their civic engagement.
Manganese, nickel, mineral sands, lithium and cobalt: Eramet extracts and develops metals that are essential to building a more sustainable world.
As a privileged partner to its industrial customers, the group helps create robust and resilient infrastructures and structures, more efficient means of mobility, safer health instruments and more efficient telecommunications devices.
Fully committed to the age of metals, Eramet’s goal is to become a reference for the responsible transformation of the earth’s mineral resources for a good coexistence.