MINEX Forum

Tag: France

  • France Takes Minority Stake in Imerys’ €1.8bn Emili Lithium Project

    France Takes Minority Stake in Imerys’ €1.8bn Emili Lithium Project

    France will invest €50 million in a minority stake in Imerys’ flagship Emili lithium project, marking a significant step in the country’s strategy to secure domestic battery raw materials.

    The investment, announced on Wednesday, will support feasibility studies ahead of a final investment decision. Production is currently targeted for 2030. Imerys CEO Alessandro Dazza said additional investors are expected to join the project as financing discussions progress.

    First unveiled in 2022, the Emili project aims to produce 34,000 tonnes of lithium hydroxide annually, enough to supply batteries for around 700,000 electric vehicles each year. The project involves developing an underground lithium mine beneath an existing kaolin site in central France, alongside a dedicated processing facility.

    Imerys has revised its total project cost estimate upward to €1.8 billion from an initial €1 billion forecast. However, Dazza indicated the final capital requirement is likely to come in significantly below the updated estimate.

    While the company may not retain a majority stake once new investors enter, Dazza stated that Imerys considers itself the natural operator of the future mine.

    The production timeline was pushed back from 2028 to 2030, partly due to public debate surrounding environmental concerns. The project is widely seen as a cornerstone of France’s efforts to reduce reliance on imported lithium and strengthen Europe’s battery supply chain.

  • Imerys in Exclusive Talks to Sell Minority Stake in French Lithium Project

    Imerys in Exclusive Talks to Sell Minority Stake in French Lithium Project

    French industrial minerals company Imerys announced it is in exclusive negotiations with a potential investor to sell a minority stake in its large-scale lithium mining project in central France, a key development in Europe’s efforts to secure domestic supplies of critical materials for the energy transition.

    Chief Financial Officer Sébastien Rouge told reporters on Thursday that the company is confident a deal can be finalized by the end of January 2026, though he declined to disclose the identity of the potential investor. The update came during the presentation of Imerys’ third-quarter results.

    Imerys first revealed plans in July to seek a financial and strategic partner for the project, which aims to produce battery-grade lithium to support Europe’s fast-growing electric vehicle industry. Since then, the estimated cost of the mine and processing complex — located near Echassières in France’s Allier department — has risen from €1 billion to €1.8 billion ($2.1 billion), reflecting inflationary pressures, higher energy costs, and expanded project scope.

    Once operational, the facility is expected to become one of Europe’s largest sources of lithium, a mineral considered vital for meeting EU goals to reduce dependence on imports from China and bolster the continent’s battery manufacturing capacity.

  • Eramet Cuts 2025 Capital Spending and Seeks Lender Waiver Amid Falling Sales and Rising Debt

    Eramet Cuts 2025 Capital Spending and Seeks Lender Waiver Amid Falling Sales and Rising Debt

    French mining and metals group Eramet has lowered its capital expenditure forecast for 2025 and announced plans to unveil additional measures in December aimed at stabilizing its finances in the face of weak metal prices, operational challenges, and mounting debt.

    In a third-quarter sales statement released Thursday, the company said it now expects to spend €400 million–€425 million ($466 million–$496 million) this year, down from the previous range of €400 million–€450 million. The revision comes as part of a broader performance review launched in June by new CEO Paulo Castellari, focused on preserving liquidity and strengthening the balance sheet.

    Eramet also disclosed that it has requested a waiver from lenders to mitigate the risk of breaching its gearing covenant as of December 31, 2025. The group said more details about its cost-cutting and liquidity-improving actions will be presented in early December.

    Third-quarter sales dropped 10% year-on-year to €720 million, pressured by softer metal prices and logistics issues at its manganese operations in Gabon. Due to rail capacity constraints in the country, Eramet cut its 2025 target for transported manganese ore volumes to 6.1–6.3 million metric tons, down from 6.5–7.0 million tons previously — the second downward revision this year.

    The company maintained its 2025 production outlook for its Weda Bay nickel joint venture in Indonesia at 36–39 million wet metric tons, and for its new lithium project in Argentina, where it expects to produce 4,000–7,000 tons of lithium carbonate equivalent in 2025. Both figures were reduced earlier in July.

    Eramet, a key player in Europe’s critical minerals supply chain, has been under pressure from falling prices for nickel and manganese — metals vital to the green transition — as well as operational bottlenecks across its global portfolio. Castellari’s restructuring strategy is seen as pivotal to restoring confidence among investors and lenders as the group navigates an increasingly volatile commodities market.

  • France’s EMILI Project: A Game-Changer for European Lithium Production

    France’s EMILI Project: A Game-Changer for European Lithium Production

    The EMILI project in Beauvoir, France, has taken a major step forward following the visit of Minister of Industry and Energy Marc Ferracci. Recognised as a project of major national interest, EMILI is home to Europe’s largest lithium deposit and the fourth largest globally.

    A recently completed pre-feasibility study revealed a higher-than-expected lithium grade, extending the project’s lifespan from 25 to 50 years. This long-term outlook cements EMILI’s role in bolstering European sovereignty over critical battery materials and supporting the continent’s electric vehicle ambitions.

    “Beneath our feet lies a lithium deposit recognised as a project of major national interest, the fourth largest in the world and the largest in Europe,” said Guillaume Delacroix, Senior Vice President Performance Minerals EMEA & APAC.

    EMILI benefits from France’s new regulatory framework that accelerates mining development, alongside eligibility for €200 million in tax credits once operations commence. With a focus on high environmental and social standards, the project is poised to become a cornerstone of Europe’s clean energy future.

    Learn more here.

  • Uzbekistan’s Navoiuran Signs €9 Million Uranium Transport Deal with Kazakhstan’s Logistic Centre

    Uzbekistan’s Navoiuran Signs €9 Million Uranium Transport Deal with Kazakhstan’s Logistic Centre

    Navoiuran, a leading uranium producer from Uzbekistan, has signed a €9 million contract with Kazakhstan’s TOO Logistic Centre for the transportation of uranium concentrate to France, according to inbusiness.kz citing EURASIA TODAY.


    Under the agreement, TOO Logistic Centre will transport 500 containers of uranium concentrate from the port of St. Petersburg to the commune of Malvési in southern France. The total cargo volume is expected to reach up to 6,000 tons.


    Deliveries are scheduled to continue until the end of the first quarter of 2026, with each shipment required to reach its destination within 15 days of departing the Russian port.


    In addition to the French deliveries, Navoiuran plans to export uranium through Russia to the United States and Canada and is currently seeking contractors for transportation to processing facilities in those countries.

  • Uzbek Firm “Navoiyuran” Signs €9M Deal to Transport Uranium Concentrate to France

    Uzbek Firm “Navoiyuran” Signs €9M Deal to Transport Uranium Concentrate to France

    Uzbekistan’s “Navoiyuran” has signed a €9 million contract with Kazakhstan’s “TOO Logistic Centre” to ship uranium concentrate to France, according to EURASIA TODAY. The agreement involves transporting 500 containers (totaling 6,000 tons) from Saint Petersburg port to Malvési in southern France.

    Under the deal, “TOO Logistic Centre” must deliver each batch within 15 days of departure from Russia, with all shipments completed by Q1 2026. Additionally, “Navoiyuran” plans to export uranium to the US and Canada via Russian routes and is currently seeking logistics partners for these shipments.

  • GravitHy Secures €60 Million to Decarbonize Steel

    GravitHy Secures €60 Million to Decarbonize Steel

    GravitHy, the pioneering green steel company, announced the successful close of a €60 million funding round, backed by prestigious investors and public funding from the French program “Première Usine.” This investment signifies a major milestone in the company’s journey to revolutionize the steel industry and drive decarbonization.

    Leading the charge with €60 million in new capital, the round attracted major players like Advantage Partners, Inc., Ecolab, Marcegaglia, Rio Tinto, and Siemens Financial Services. Existing shareholders, InnoEnergy and ENGIE New Ventures, also participated in the round, reaffirming their confidence in GravitHy’s vision.

    Accelerating Growth and Reaching New Heights

    Under the leadership of CEO Jose Noldin, this funding will finance the development of GravitHy’s industrial-scale Direct Reduced Iron (DRI) and Hot Briquetted Iron (HBI) plant in Ville de Fos-sur-Mer. The plant, scheduled to commence commercial production in 2029 after an extensive commissioning phase and gradual ramp-up, will produce 2 million tons annually, resulting in up to 90% reduction in CO2 emissions compared to traditional steel production methods.

    Nicolas Chabannes, GravitHy’s CFO, emphasizes the significance of this fundraising: “This is a crucial step in securing the necessary capital for our plant construction. The market’s interest and the commitment of our investors demonstrate the relevance of our industrial project and our ability to attract investment. We are actively engaging with all stakeholders to finalize the project financing.”

    Alice Vieillefosse, GravitHy’s Growth Officer, added: “We are dedicated to driving innovation and providing low-carbon DRI/HBI to our valued customers. We will forge strategic partnerships to ensure competitive growth and accelerate the transition towards a sustainable steel industry.”

    Generating Jobs and Empowering a Sustainable Future

    GravitHy’s groundbreaking plant is projected to create up to 500 direct jobs and contribute significantly to the regional economy.

    This ambitious project with a total investment of €2.2 billion underscores GravitHy’s commitment to transforming the steel industry through sustainable and technologically advanced solutions. With the support of its dedicated investors, GravitHy is poised to become a leading force in shaping a greener and more sustainable future for steel.

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    About GravitHy
    GravitHy is a pioneering green steel company committed to decarbonizing the steel industry through the production of low-carbon Direct Reduced Iron (DRI) and Hot Briquetted Iron (HBI). GravitHy aims to deliver superior quality, sustainable steel solutions, contributing to a cleaner and more sustainable future for generations to come.

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  • Uzbekistan and France Strengthen Economic Partnership Through Uranium Mining Initiatives

    Uzbekistan and France Strengthen Economic Partnership Through Uranium Mining Initiatives

    (Paris, France) – Uzbekistan and France are deepening their economic partnership, forging new trade agreements and collaborations that could reshape the energy landscape of Central Asia. French nuclear giant Orano signed a major agreement during President Shavkat Mirziyoyev’s state visit to Paris earlier this month, signifying a significant leap forward in uranium mining cooperation between the two nations.

    The details of the agreement, estimated to be worth billions of euros, remain undisclosed. However, sources indicate it involves Orano increasing its current uranium mining operations in Uzbekistan and potentially expanding into new areas. Uzbekistan, holding significant uranium reserves, is keen to develop its nuclear energy sector and position itself as a key supplier to international markets.

    This multi-million-euro deal builds on a series of agreements signed during President Mirziyoyev’s visit, totaling up to €12 billion in investments across diverse sectors like infrastructure, energy, and water management.

    “Uzbekistan views France as a key strategic partner in its drive to modernize its economy and transition towards cleaner energy sources,” said a senior Uzbek government official, speaking on condition of anonymity. “This partnership opens doors for significant technological transfer and investment in Uzbekistan’s nuclear sector.”

    French companies, including Suez and Orano, are already actively investing in Uzbekistan, contributing to key sectors like utilities and resource development. The France-Uzbekistan Chamber of Commerce, launched last year, further underscores the growing bilateral economic ties.

    Critics, however, raise concerns regarding the environmental and social impacts of expanding uranium mining operations in Uzbekistan. They call for greater transparency and stringent safety regulations to ensure responsible resource development and protect local communities.

  • Aurania Resources’ potential gold discovery in France

    Aurania Resources’ potential gold discovery in France

    Aurania Resources CEO Keith Barron recently showcased a remarkable quartz sample containing visible gold from Brittany, France, at the PDAC convention in Toronto. The sample boasts an impressive 46% gold content, a grade Barron likened to legendary discoveries such as the Croesus mine in Ontario. This discovery has sparked significant interest, with Aurania Resources applying for concessions in Brittany’s high-grade gold area and expecting permits by early summer. The project could also lead to a polymetallic opportunity, with gold revenue potentially funding the extraction of byproducts like antimony.

    Barron, who holds a 43% stake in Aurania, is deeply invested in the company’s success, both financially and personally. He expressed his determination to make the venture profitable, saying, “If the company doesn’t make money, I don’t make money, and I intend to make a lot of money”.

    You can find more details in the Northern Miner article or watch the PDAC JV video.

  • France Unveils Plans to Revitalize Mining and Renewable Energy Sectors

    France Unveils Plans to Revitalize Mining and Renewable Energy Sectors

    In a bid to reduce dependency on imports and align with climate targets, France announces measures aimed at revitalizing copper mining and expediting lithium and geothermal energy projects. Finance Minister Bruno Le Maire outlined potential steps to streamline research permits for geothermal energy, mining, and carbon storage, with provisions allowing the repurposing of depleted oil and gas wells for carbon storage.

    Speaking at a geothermal drilling site in a Paris suburb, Le Maire emphasized leveraging France’s diverse energy resources, including wind, hydro, biomass, and solar energy, alongside untapped geological assets. The proposed legislation seeks to accelerate the revival of copper mining, halted for over two decades, to meet the rising demand for cables essential in renewable energy infrastructure and cross-border power connections.

    With lithium projects on the horizon, spearheaded by companies like Imerys SA, Eramet SA, and Arverne Group SA, France aims to cover a significant portion of its electric-vehicle battery needs by 2035. The national geothermal action plan, published in 2023, outlines ambitious targets to triple renewable heat production from deep geothermal energy and geothermal heat pumps by 2028 and 2030, respectively.