One of the largest nickel deposits in the world
The Weda Bay Nickel (WBN) project is an industrial and mining project aiming to recover one of the largest nickel deposits in the world, located on the island of Halmahera in Indonesia. Its measured, indicated, and inferred resources are valued at more than 9.3 million tons of nickel.
After the put option exercised by Mitsubishi Corporation in April 2016, ERAMET holds a 100% stake in Strand Minerals Pte Ltd which owns 90% of the Indonesian project and exploration company, PT Weda Bay Nickel.
On 23 February 2017, the ERAMET Board approved the terms of the Memorandum Of Understanding signed with the Chinese steel producer group Tsingshan, the leading world steel producer. The Memorandum Of Understanding establishes the conditions for a partnership to develop this asset. The partnership would entail producing a nickel ferroalloy from Weda Bay ore in Indonesia based on a pyrometallurgical process, for a nameplate capacity of 30,000 tons of nickel per year. This partnership would be reflected by the entry of Tsingshan group in Strand Minerals Pte Ltd. ERAMET would hold 43% of the shares and Tsingshan group 57%.