Weda Bay Nickel plans US$4.5bl investment in Central Halmahera

The Jakarta Post, Sun, 03/27/2011

Mining firm PT Weda Bay Nikel (WBN) said Sunday it had allotted US$4.5 billion for nickel mining and development of a processing factory in Ternate, Central Halmahera regency.

WBN spokesman Olivier Beligon said initial investments began in 2006 for mining exploration.

Beligon said the company would start constructing a nickel processing factory in 2012 with a total capacity of 65,000 tons.

“The factory will absorb 4,000 workers,” he said, as quoted by kompas.com.

French mining firm Eramet controls 90 percent of WBN shares.