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Eramet transfers decision to invest nickel project in Indonesia

Managers, portfolio managers of mining and metallurgical company Eramet assets (France) decided to postpone the implementation of Phase I of the investment program for the Indonesian nickel project Weda Bay on Halmahera Island. If previously announced forecast of this phase, the company was to be held later this year (according to preliminary data, the investment should be about 6 billion. Dollars), sanitized plans investments will flow into Weda Bay Nickel is not earlier than 2013.

At the moment, analysts will continue to explore opportunities for Eramet Nickel project implementation. Recall that the leadership of the French corporation expects to achieve annual performance measures at Weda Bay to 35 thousand tons (in the early stages) and up to 65 tons -… In a more distant future.

Today, 10% of the securities Weda Bay nickel project owned by Indonesian corporations PT Antam. Control as a package (90%) of the company disposed of Strand Minerals (Singapore), 66th percent owned by Eramet SA All remaining shares in the share of Singapore's organization formerly belonged to the Japanese corporation Mitsubishi. However, some of these assets (. 3.4% of the $ 38.4 million) in December last year bought a Japanese manufacturer of ferronickel — company Pacific Metals.

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