In March 2006, almost nine years ago, Eramet SA (France) acquired Weda Bay Minerals Inc, developer of Weda Bay nickel project in Halmahera Island, North Maluku province. Almost six years ago, Mitsubishi Corporation acquired a 33.4% interest in Strand Minerals (Indonesia) Pte Ltd, which owns 90% of PT Weda Bay Nickel. Mitsubishi paid US$145 million to Eramet (France) to get the shares. Unfortunately, until now they have yet to build the US$5.5 billion project. To subscribe please click here