Eramet plans to invest $5.5 billion in Halmahera mine

French mining conglomerate Eramet plans to invest up to US$5.5 billion to develop a nickel mine and its supporting facilities including a nickel smelting plant in Halmahera, North Maluku, Kompas reported on Tuesday.

The investment plan was unveiled by Eramet?s President Patrick Buffet in a meeting with Indonesia?s Energy and Mineral Resources Minister Jero Wacik during his visit to France last week.

Jero said that Eramet planned to employ 3,500 workers in the company?s nickel mine in Halmahera. ?I told them that the company?s mining operations should be able to support economic growth, help solve unemployment problem and not to damage the environment,? Jero said.

Eramet?s delegation will visit Indonesia in November 2012 to follow up on the investment plan and sign some cooperation agreements.

During his visit to France, Jero also met Yves-Louis, the president of Total upstream to discuss the possible extension of Total?s production sharing contract (PSC) over the Mahakam oil and gas block in Kalimantan. (*)