Our history

Eramet signed an MoU with Indonesia Investment Agency, Danantara and the Indonesia Investment Authority (INA) to explore the establishment of a strategic investment platform in the nickel sector.

Eramet partnered with Indonesia’s Ministry of Energy and Mineral Resources (ESDM) through the Geological Agency to bolster the country’s EV ecosystem. This partnership includes a joint study to explore the potential for lithium in Indonesia, marking another step in advancing the critical minerals sector.

Eramet and Tsingshan agreed to prepare Weda Bay Nickel for auditing under the Initiative for Responsible Mining Assurance (IRMA) standards.

Eramet opened a new office in Jakarta, reflecting its long-term commitment to explore and foster opportunities that support Indonesia’s growth and advance the country’s energy transition.

In 2020, Eramet and BASF, the largest chemical producer in the world, had signed an agreement to assess the potential of jointly developing and constructing a nickel-cobalt refining complex in Weda Bay in Indonesia.

After a thorough evaluation, including discussions about project execution strategy, both partners have decided against this investment in 2024.

This decision was based on market conditions, capital allocation decisions, and the project’s execution strategy.

PT Weda Bay Nickel (WBN) officially began mining operations and established a plant in April 2020 within the Indonesia Weda Bay Industrial Park (IWIP), managed by Tsingshan, to produce low-grade nickel ferroalloy..

Eramet entered into a joint venture with the Chinese steel group Tsingshan, the world’s largest stainless steel producer, through which Tsingshan acquired a majority stake in Strand Minerals. Today, Strand Minerals is 43%-owned by Eramet and 57%-owned by a company within the Tsingshan Group. With this new partnership, PT Weda Bay Nickel (WBN) moved into the construction phase, marking a significant step forward.