Haji Isam reportedly considers stake in Indonesia's Weda Bay Nickel
Eramet's 38.7% holding is under consideration, while Indonesia's sovereign wealth fund Danantara is also reportedly interested.
Indonesian billionaire Andi Syamsuddin Arsyad, known as Haji Isam, is weighing whether to buy part or all of Eramet's 38.7% holding in PT Weda Bay Nickel, Bloomberg reported, citing people familiar with the discussions.
The people cited a range of possible valuations Eramet could seek, the highest valuing the whole mine at up to US$4 billion. They said deliberations were continuing without a final decision, and named Indonesia's sovereign wealth fund Danantara as another potential buyer of the stake.
The Indonesian nickel deposit ranks among the world's largest, according to PT Weda Bay Nickel's website.
Paris-based Eramet has said it is seeking buyers for holdings in lithium and nickel assets, Mining.com reported. The French mining company said investors had shown interest both in its Weda Bay Nickel stake and in its minority holding in the Centenario-Ratones lithium project in Argentina.
Haji Isam's business interests span coal, palm oil, nickel and cryptocurrency. He recently bought a stake in Indonesian coal producer PT Bayan Resources from its billionaire founder, Low Tuck Kwong.
