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View all search resultsHaji Isam reportedly weighs bid for Eramet’s stake in Weda Bay Nickel
Coal tycoon Andi Syamsuddin Arsyad, better known as Haji Isam, is considering acquiring Eramet SA’s stake in one of the world’s largest nickel mines, Bloomberg reported, in a move that would mark the billionaire’s second major deal this year.
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A drone view shows nickel processing facilities at the Indonesia Weda Bay Industrial Park in Central Halmahera Regency, North Maluku, in this handout picture released Oct. 8, 2026. (Reuters via Handout/Indonesia’s Presidential Palace)
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oal tycoon Andi Syamsuddin Arsyad, better known as Haji Isam, is considering acquiring Eramet SA’s stake in one of the world’s largest nickel mines, Bloomberg has reported, in a move that would mark the billionaire’s second major deal this year.
Haji Isam may seek to buy part or all of Eramet’s 38.7 percent interest in PT Weda Bay Nickel, people familiar with the matter said, as reported by Bloomberg. Eramet may seek a valuation of as much as US$4 billion for the entire mine, one person said, while other sources gave a more conservative estimate.
Other suitors for the holding include state fund Danantara, people familiar with the matter said previously, according to Bloomberg.
A representative for Paris-based Eramet declined to comment.
The government has this year cut mining quotas, stepped up environmental controls and adjusted ore pricing to rein in its runaway nickel sector.
A commitment to slash mining quotas from last year's 379 million tonnes to between 250 million and 260 million tonnes propelled the London Metal Exchange nickel price to a May high of $20,000 per tonne.
On Nov. 5, the price was back down at $16,322.
