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Eramet Finalises Agreement with Tsingshan to Develop the Weda Bay Nickel Deposit in Indonesia
Jun. 08, 2017 08:41AM PST
Base Metals Investing Eramet has announced an agreement finalised with the Chinese Steel Group Tsingshan, a leading stainless steel world producer, to develop the Weda Bay nickel deposit in Indonesia. Acquired by Eramet in 2006, Weda Bay is a nickel deposit with measured, indicated, and inferred resources valued at more than 9.3 million tons of nickel. Eramet contributes …
Eramet has announced an agreement finalised with the Chinese Steel Group Tsingshan, a leading stainless steel world producer, to develop the Weda Bay nickel deposit in Indonesia.
Acquired by Eramet in 2006, Weda Bay is a nickel deposit with measured, indicated, and inferred resources valued at more than 9.3 million tons of nickel.
Eramet contributes to the partnership with this nickel deposit situated on Halmahera Island where geological exploration studies have been performed over several years.
Tsingshan will expand its industrial set up in Indonesia, refining nickel ore through pyrometallurgical processes. Each partner will market its share of the production. Nickel ferroalloys sales are expected to start in 2020, for a nameplate capacity of 30,000 tons of nickel.
This partnership will be reflected by the entry of Tsingshan group into Strand Minerals. Eramet will hold 43% of the shares and Tsingshan group 57%.
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