PRESS RELEASE
Eramet targeted by a financial fraud
Eramet has identified a financial fraud within its central treasury management.
Eramet has immediately initiated the necessary investigations and mobilized all internal and external resources required to terminate these fraudulent activities and take remedial action.
Eramet will file a criminal complaint with the authorities and has taken immediate disciplinary measures against the identified staff. The Group will also take all possible measures to reduce the impact of this fraud on its accounts.
The financial impact of this fraud is currently estimated at EUR 45 million, before insurance or implementation of legal action. It will be accounted for in the operating profit for financial year 2021.
Eramet’s Board of Directors has been informed of the situation and, with the assistance of the Audit Committee, will regularly monitor the progress of investigations and the implementation of corrective measures.
In addition to all existing controls, Eramet will examine all additional measures to further strengthen its internal control procedures and prevent such fraudulent acts.
Calendar
23.02.2022: Publication of 2021 annual results
28.04.2022: Publication of 2022 first-quarter turnover
ABOUT ERAMET
Eramet transforms the Earth’s mineral resources to provide sustainable and responsible solutions to the growth of the industry and to the challenges of the energy transition.
Its 13,000 employees are committed to this through their...
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