On Monday, October 12, 2026, the Élysée Palace announced that France will substantially increase its equity position in Eramet through a capital increase capped at €500 million, targeting finalization before December 31. As of late 2025, the state held approximately 27 percent of the company, while the Duval industrial family controlled 37.22 percent. The French state ownership agency, APE, will participate proportionally in the funding round and acquire select pre-emptive subscription rights from the Duval family at prevailing market rates. State officials confirmed the government’s stake will remain below the 50 percent threshold, though industry reports indicate the Duval family is evaluating partial or full divestment options. Should the family decline to contribute additional capital, its ownership will be diluted.
The restructuring effort addresses Eramet’s deteriorating balance sheet, which recorded a €477 million net loss and elevated leverage throughout 2025. First-half 2026 financial data showed revenue rising 10 percent year-over-year to €1.5 billion, with adjusted sales reaching €1.65 billion, yet the company still posted a €195 million net deficit. The capital injection is considered vital for stabilizing operations across its commodity portfolio, which spans manganese for metallurgical alloys, nickel for stainless steel and battery applications, lithium for electric vehicle powertrains, and mineral sand extraction in Senegal. By securing majority influence without crossing the half-way mark, Paris aims to direct strategic decisions that could alter supply routing and investment priorities for base and transition metals globally.