Eramet to make decision on giant nickel project

French metal producer ERAMET said on Thursday that it expected to make investment decision on its North Maluku giant nickel project in late 2011 or early 2012.

The Company said in its 2009 Results announcement that studies on the investment project are currently ongoing.

The Weda Bay deposit is one of the largest undeveloped nickel projects globally, with an updated 5.1 million tons nickel contained in measured, indicated and inferred ore resources, with a targeted additional annual capacity of up to 65 000 tons of nickel. The project would use a hydrometallurgical process developed by ERAMET at its research centre in France.

ERAMET has 66.6 percent stake in Strand Minerals (Indonesia) Pte Ltd, which owns 90% of the Weda Bay Nickel project with Japanese firm Mitsubishi Corporation having the balance. State mining firm PT.Aneka Tambang (Antam) is the owner of the remaining 10% of the project. (alex)