JAKARTA — The Danantara Investment Management Agency (Danantara) is signaling a significant move in the mining sector, with CEO Rosan P. Roeslani confirming the agency’s openness to acquiring a stake in PT Weda Bay Nickel (WBN) currently held by the French mining giant, Eramet.
The announcement followed a limited cabinet meeting at the State Palace on Tuesday (5/12/2026), where President Prabowo Subianto reviewed critical infrastructure and regional development strategies. Rosan emphasized that Danantara is actively discussing the potential acquisition with Eramet, positioning the agency as a robust local partner for international investors operating in Indonesia.
Reports from MySteel suggest that negotiations are underway for Danantara to potentially acquire some or all of Eramet’s holdings in WBN. There is also speculation that Danantara may participate in a planned rights issue by the French company later this year.
For context, Eramet currently holds a 37.8% stake in WBN. The venture’s largest shareholder is Tsingshan Holding Group, which commands 51.3%, while Indonesia’s state-owned mining firm, PT Aneka Tambang Tbk. (ANTM), holds the remaining 10%. WBN has been operating nickel mining concessions in Halmahera, North Maluku, under a special mining business license (IUPK) since 2019.
This potential acquisition aligns with a broader strategic partnership established last year. Danantara and the Indonesia Investment Authority (INA) previously formed a platform to collaborate with Eramet on nickel projects spanning from upstream extraction to downstream processing. This initiative was formalized through a Memorandum of Understanding (MoU) signed in the presence of President Prabowo and French President Emmanuel Macron.
The core objective of this partnership is to develop a sustainable and integrated supply chain for electric vehicle (EV) batteries within Indonesia. By combining international technical expertise with local strategic financing, the parties aim to identify high-potential projects while adhering to rigorous global sustainability standards.
Danantara Indonesia’s Chief Investment Officer, Pandu Sjahrir, previously noted that this collaboration is vital to establishing Indonesia as a global hub for the EV battery supply chain. According to Pandu, Danantara and INA are focused on managing long-term financing to support these investments, while Eramet brings the technical proficiency and experience necessary for large-scale, environmentally conscious mining operations.
“This partnership underscores a shared commitment to fostering world-class nickel downstream investment in Indonesia. It integrates global technical capacity with sustainable mining practices, ultimately strengthening our national industrial competitiveness,” Pandu stated during the initial project announcement.
Summary
Danantara Investment Management Agency is actively negotiating the potential acquisition of Eramet’s 37.8% stake in PT Weda Bay Nickel (WBN). This move, confirmed by CEO Rosan P. Roeslani, aims to strengthen Danantara’s role as a key local partner for international mining operations in Indonesia. The discussions may involve purchasing existing holdings or participating in a planned rights issue later this year.
This initiative aligns with a broader strategic partnership established to develop an integrated supply chain for electric vehicle batteries in Indonesia. By combining Eramet’s technical mining expertise with Danantara and INA’s long-term financial support, the collaboration seeks to boost national industrial competitiveness. The project adheres to rigorous sustainability standards, supporting Indonesia’s ambition to become a global hub for the EV battery industry.