Govt to sign MoU with Weda Bay on mining contract amendment
Wednesday, August 20 2014 - 02:37 AM WIB
The Ministry of Energy and Mineral Resources hopes to soon sign an MoU with mining firm PT Weda Bay Nickel on the conclusion of mining contract renegotiation, Investor Daily reported on Wednesday.
The paper quoted Director of Mineral Management and Development at the ministry Edi Prasodjo as saying that Weda Bay has agreed to the six main points of contract amendment proposed by the government. ?In principle, it has been agreed,? he said on Tuesday.
Elsewhere, Edi said that Weda Bay plans to build a smelter facility to be integrated with nickel mine on Halmahera Island, North Maluku, in a combined US$5 billion investment.
The Weda Bay project is 90 percent owned by Strand Mineral Pte Ltd (Singapore), and IDX-listed mining firm PT Aneka Tambang 10 percent. Meanwhile, Strand Island is 66.6 percent owned by France-based Eramet SA, 30 percent Mitsubishi Corp, and 3.4 percent Pamco. (*)