Eramet in talks with France to offload debt from SLN nickel unit [Yahoo! Finance]
ERAMET SA UNSP/ADR (ERMAY)
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Source: Yahoo! Finance
euros of debt related to its loss-making nickel subsidiary SLN in New Caledonia, the head of the mining group said on Wednesday. The company's talks with the French authorities are part of wider negotiations to rescue the struggling nickel industry in New Caledonia. Eramet, which has refused to inject more funds into SLN, aims to reach a deal in the coming weeks with France to remove some 320 million euros ($345.82 million) of SLN's debt from its own balance sheet, Chair and CEO Christel Bories told reporters, declining to give further details. The debt included a new 60 million euro loan granted to SLN by the French government this month and which should let SLN continue operating until at least April, Bories said on a results call. The debt discussions between Eramet and the government were separate to the broader talks over the New Caledonian industry and Eramet remained open to different longer-term options for SLN, she added. ($1 = 0.9253 euros) (Reporting by Gus Trompiz;
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