|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||80.54 - 80.54|
|52-week range||28.10 - 99.00|
|Beta (5Y monthly)||1.81|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||29 May 2019|
|1y target est||N/A|
PARIS (Reuters) -French mining group Eramet said on Monday it was relaunching a lithium production project in Argentina through a partnership with Chinese steel group Tsingshan as it seeks to expand in minerals needed for electric vehicles. Eramet owns a large lithium deposit in Argentina but had suspended its development in April 2020 at the start of the COVID-19 pandemic. The agreement with Tsingshan covers the construction of a lithium processing plant from the first quarter of 2022, with commissioning scheduled for early 2024.
Europe is still not investing enough in the supply chain for electric vehicle batteries and this could leave its planned gigafactories short of coveted minerals, French mining group Eramet said. Eramet is struggling to attract investment from its home region to process its overseas nickel, lithium and cobalt reserves into battery materials and may have to turn to non-European players, Pierre-Alain Gautier, its head of corporate affairs and partnerships, said. Electric vehicles are a key plank of European Union plans to cut emissions.
France's Eramet reported a rise in first-quarter sales on Monday as higher prices and output boosted its mining division, offsetting a slide at Aubert & Duval (A&D), the struggling aeronautics alloys supplier it is trying to sell. Group sales reached 838 million euros ($1.01 billion), up 8% compared with the same period a year earlier, including an 18% rise for its mining and metals branch to 683 million euros, the French company said in a statement. The market context for the mining and metals division remained favourable at the start of the second quarter, "mainly thanks to the momentum of the Chinese economy, with an improved short-term outlook in Europe and the United States," it said.