Eramet's board of directors has met on December 14th 2011 under the chairmanship of Mr Patrick Buffet chairman & CEO of the Eramet group and took the following decision:

Eramet's board of directors has received an update on the progress of the Weda Bay Nickel Project development in Indonesia and takes note of the entry of a new partner in the Project.

Mitsubishi Corporation has agreed to sell a 3.4% ownership interest from its 33.4% stake in Strand Minerals (the owner of 90% of PT Weda Bay Nickel) to Pacific Metals Co Ltd of Japan for JPY 3 billion. Eramet's ownership in Strand Minerals remains unchanged at 66.6%. This transaction gives an indicative value of approximately 944 million Euros or 1.263 billion US Dollars for 100% of the Project, and valorizes Eramet's ownership of the Project at around EUR 566 million or USD 757 million. The shareholders' agreement existing between Eramet and MC has been amended to include Pamco.

This transaction is an important step for the Weda Bay Nickel Project, as it is adding a new partner that will be able to process in Japan the part of the Weda Bay Nickel intermediate product to be allocated to the Japanese interest. Moreover, Pamco shares the view that the sulfuric acid atmospheric pressure leaching process is best suited to the characteristics of the Weda Bay nickel ore. Indeed, the Project will use a sulfuric acid atmospheric pressure leaching process developed by ERAMET at its research center in France and patented by ERAMET. Pamco has independently and simultaneously developed and tested a similar atmospheric pressure leaching process in Japan. In this respect, Pamco's entry into the Project might result in synergies.

The Weda Bay Nickel Bankable Feasibility Study is ongoing. The final investment decision for the construction and financing of the 1st Phase of the Project, for an initial production capacity of 35,000 t of nickel per year, is expected at the end of 2012. The overall project, with an ultimate production capacity of 65,000 tonnes of nickel per year, is to be completed in two phases.

ERAMET and BRGM sign framework agreement for long term cooperation.

The framework agreement, signed by Mr Patrick Buffet chairman & CEO of Eramet and Mr Jean François Rocchi chairman & CEO of BRGM, is intended to formalize the relations developed since 2007 and ensure their long term future. BRGM carries out regular work in the field of mineral resources on Eramet's behalf.

Mr Patrick Buffet stated that "This framework agreement is in line with the ERAMET group's accelerated development rationale in terms of exploring and beneficiating primary and secondary mineral resources."