Eramet’s 2018 results show manganese alloy margin squeeze amid high ore prices

French mining and metallurgy company Eramet generated lower operating income from its manganese business in 2018 despite higher sales, the group announced in a results statement on Wednesday February 20.

This was a consequence of squeezed manganese alloy margins which offset strong manganese ore prices. Operating income at the manganese division dropped to €699 million ($793 million) in 2018 from €719 million in 2017. This was despite the fact that sales increased by 3% to €1.86 billion ($2.11 billion) over the same period. “Manganese business sales [excluding Mineral Sands activity], which account for about 49% of consolidated sales, grew by 2% to €1.857 billion in 2018...

Published

Janie Davies

February 21, 2019

13:02 GMT

London