Danantara is in talks to buy all or part of French company Eramet's 38.7% stake in Indonesian nickel miner PT Weda Bay Nickel, according to reports.
Sources said the negotiations are still at an early stage. As part of the deal, Danantara may also participate in Eramet's planned €500 million rights issue this year. Neither Danantara nor Eramet have commented on the matter so far. Earlier, Eramet had suspended dividend payments and planned to raise €500 million to improve its financial position.
Meanwhile, Eramet announced on April 23 that due to the Indonesian government's sharp 71% cut in its 2026 RKAB production quota, output at PT Weda Bay Nickel will temporarily halt starting May 2026 (as the quota is nearly exhausted).
Written by Cora Ji, jiruyan@mysteel.com
Join Mysteel's April 30 webinar to explore whether supply disruptions will drive the next leg higher for lithium and nickel markets in Q2 2026.
