Eramet postpones Weda Bay nickel project

French mining and metallurgical group Eramet has postponed its Weda Bay nickel project in Indonesia on weak prices for the alloying metal, the company said in its results release for 2013.

The postponement of the project caused Eramet group to record a €224 million ($308 million) write-down on its fixed assets in relation to the project, as of December 31, 2013. “Given the deterioration observed in the nickel market in 2013 and the short-term outlook for nickel prices, Eramet, in agreement with its partners Mitsubishi Corp and PT...

Published

Claire Hack

February 24, 2014

11:02 GMT

London