Mitsubishi Corporation

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April 25, 2016
Mitsubishi Corporation

Mitsubishi Corporation to Sell Its Portion of Indonesia’s Weda Bay Nickel Project to ERAMET

Mitsubishi Corporation (“MC”) has agreed to transfer all its shares (30.0%) in Strand Minerals (Indonesia) Pte Ltd (“Strand”) to ERAMET¹, Strand’s largest shareholder. Strand owns 90.0% of PT Weda Bay Nickel, the entity undertaking the development of the Weda Bay Nickel Project in Indonesia.
 
MC has been carrying out a feasibility study since joining the project in February 2009 and has decided to sell all its shares to ERAMET, in accordance with the shareholders’ agreement, because the criteria for project development have not been met.
 
MC is continuously reviewing its portfolio, corresponding to the business environment for mineral resources.
 
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Project Structure (Before sale of shares by MC)                                           
*1 ERAMET is a world leading producer of metal alloys, particularly manganese and nickel, which are used to improve the properties of steel, and also of high-performance special steels and alloys for the aerospace, power generation, tooling, and other industries. ERAMET is listed on the Euronext Paris and employs approximately 14,000 people in 20 countries.

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