ERAMET announces the finalization of an agreement with the steel group chinese Tsingshan, 1 global producer of stainless steels, in view of the development of the nickel deposit of Weda Bay Nickel in Indonesia.
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Weda Bay, which was acquired by ERAMET in 2006, is a nickel deposit whose resources measured, indicated, and supposedly are estimated at over 9.3 million tonnes of nickel.
ERAMET contributes to the partnership with this nickel deposit, located on the island of Halmahera, recognized by many years of geological exploration. Tsingshan will carry out an expansion of its industrial base in Indonesia, in order to treat the ore by way pyrometallurgical. Each partner will market its share of production. The first sales of ferroalliage of nickel are expected to occur in 2020, capacity for the term of 30 000 tonnes of nickel.
This partnership will result in the entry of the group Tsingshan in Strand Minerals Pte Ltd.
(1) ERAMET will hold 43 % of the share capital and the group Tsingshan 57 %.
ERAMET and Tsingshan have put in common their experience and skills in the fields of industry and mining, with environmental commitments and societal strengths, to develop an active very competitive in the nickel industry.
(1)Strand Minerals Pte Ltd. is the company that controls 90 % of the indonesian company PT Weda Bay Nickel, alongside the indonesian company PT Aneka Tambang. In the framework of these agreements, the share of holding ERAMET will increase from 100 % to 43 % in Strand Pte Ltd.
ABOUT ERAMET
ERAMET is a leading global producer of :
– in alloying metals, particularly manganese and nickel, used to improve the properties of steels,
– as well as alloy and special steels of high performance are used by industries such as aerospace, power generation and tooling.
ERAMET is also developing activities with high growth potential, such as mineral sands (titanium dioxide and zircon), lithium, and recycling. The Group employs about 13,000 people in twenty countries.
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