Danantara Explores Takeover of Eramet's Stake in Weda Bay Nickel Project
PORTAL7.CO.ID - The Investment Management Agency (BPI) Danantara has confirmed negotiations to take over the share ownership held by the French company, Eramet, in PT Weda Bay Nickel (WBN), located in North Maluku. This step is part of the government’s efforts to increase local participation in the management of strategic national nickel resources.
The discussion process regarding this potential acquisition began at the Presidential Palace in Central Jakarta on Tuesday, 12 May 2026. The discussion was attended by relevant parties as a follow-up to the government’s commitment to strengthening the global electric vehicle (EV) battery ecosystem.
Danantara’s CEO, Rosan Roeslani, who also serves as Minister of Investment and Downstreaming/Head of BKPM, expressed Danantara’s openness to playing a role as a strong local partner in various strategic investments in Indonesia.
“We are basically open to discussions and talks regarding investments in Indonesia, and Danantara can be a strong local partner as well. We are open, of course. We are also discussing with Eramet,” explained Rosan at the Presidential Palace in Central Jakarta on Tuesday (12/5/2026).
Currently, the share ownership structure of PT Weda Bay Nickel is dominated by China’s Tsingshan Group with a 51.2% stake and Eramet with 37.8%. Meanwhile, PT Aneka Tambang (Persero) Tbk or Antam holds only a minority stake of 10% in the company.
This acquisition negotiation step is also in line with the previous agreement reached between President Joko Widodo and French President Emmanuel Macron regarding the establishment of a joint investment platform. The agreement aims to integrate international operational standards with economic efficiency in mine management.
Danantara Indonesia’s Chief Investment Officer (CIO), Pandu Sjahrir, emphasised that this collaboration is designed to ensure long-term financing certainty for strategic nickel downstream projects deemed important by the state.
Pandu Sjahrir added that combining Eramet’s technical expertise with Danantara’s financial support will enhance the competitiveness of Indonesia’s nickel downstream industry on the global stage. “This partnership reflects a commitment to promoting world-class nickel downstream investments in Indonesia, which is one of the main pillars in strengthening national industrial competitiveness. This collaboration also integrates world-class technical capacity in environmentally conscious mining that supports sustainable industrial development,” added Pandu.
Currently, an initial assessment is being conducted to determine which projects are most effective to maximise within the national EV battery ecosystem. All involved parties are committed to implementing this collaboration roadmap by prioritising transparency and global environmental sustainability standards.