France's Eramet Plans to Expand Downstream Investment at Indonesia's Weda Bay Industrial Park
French company Eramet SA plans to expand its investment in the downstream sector at Indonesia Weda Bay Industrial Park (IWIP) in North Maluku. The plan was conveyed by Eramet to the government some time ago.
"Their boss came here and met with us. So for me it's exciting and it also gives confidence," said Investment Minister/BKPM Head Rosan Roeslani when met at the Investment Ministry on Monday (30/4).
Rosan noted that this confidence is underpinned by Eramet's position as one of the shareholders in Weda Bay, alongside China's Tsingshan Group.
As part of Eramet's investment plans, Rosan also invited the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) to participate directly in the investment.
"I met with Mr Pandu (Danantara's CFO) yesterday as well, inviting Danantara to invest together. We are open to this plan, because the investment is in the downstream sector. Eramet is perhaps the largest company in Europe investing in downstream processing," he said.
**Investment Plans with Huayou**
In mid-2024, Eramet SA was exploring a partnership with Zhejiang Huayou Cobalt Co (Huayou) to produce nickel as raw material for electric vehicle batteries in Indonesia. This type of partnership would mirror Eramet's project with BASF, which was discontinued in June 2024.
Citing Bloomberg, sources indicated that Eramet is currently in discussions with Huayou regarding an ore supply agreement for a high-pressure acid leach (HPAL) nickel processing plant or smelter operating at IWIP. The French company is also reportedly considering acquiring shares in the Huafei plant, the world's largest HPAL smelter operated by Huayou.
However, neither Eramet nor Huayou has confirmed the reported partnership. Eramet previously stated that it would not proceed with the giant battery project. In an official statement, Eramet's management said it would continue to evaluate potential investments in the nickel electric vehicle battery value chain in Indonesia and would keep the market informed in due course.
"Indonesia is poised to play a significant role in the future of the overall global nickel market. Eramet remains focused on sustainably optimising the potential of the Weda Bay mine resources to supply ore to local nickel producers, while also further investigating opportunities to participate in the nickel electric vehicle battery value chain in Indonesia," said Geoff Streeton, Group Chief Development Officer at Eramet.
"Their boss came here and met with us. So for me it's exciting and it also gives confidence," said Investment Minister/BKPM Head Rosan Roeslani when met at the Investment Ministry on Monday (30/4).
Rosan noted that this confidence is underpinned by Eramet's position as one of the shareholders in Weda Bay, alongside China's Tsingshan Group.
As part of Eramet's investment plans, Rosan also invited the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) to participate directly in the investment.
"I met with Mr Pandu (Danantara's CFO) yesterday as well, inviting Danantara to invest together. We are open to this plan, because the investment is in the downstream sector. Eramet is perhaps the largest company in Europe investing in downstream processing," he said.
**Investment Plans with Huayou**
In mid-2024, Eramet SA was exploring a partnership with Zhejiang Huayou Cobalt Co (Huayou) to produce nickel as raw material for electric vehicle batteries in Indonesia. This type of partnership would mirror Eramet's project with BASF, which was discontinued in June 2024.
Citing Bloomberg, sources indicated that Eramet is currently in discussions with Huayou regarding an ore supply agreement for a high-pressure acid leach (HPAL) nickel processing plant or smelter operating at IWIP. The French company is also reportedly considering acquiring shares in the Huafei plant, the world's largest HPAL smelter operated by Huayou.
However, neither Eramet nor Huayou has confirmed the reported partnership. Eramet previously stated that it would not proceed with the giant battery project. In an official statement, Eramet's management said it would continue to evaluate potential investments in the nickel electric vehicle battery value chain in Indonesia and would keep the market informed in due course.
"Indonesia is poised to play a significant role in the future of the overall global nickel market. Eramet remains focused on sustainably optimising the potential of the Weda Bay mine resources to supply ore to local nickel producers, while also further investigating opportunities to participate in the nickel electric vehicle battery value chain in Indonesia," said Geoff Streeton, Group Chief Development Officer at Eramet.