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Mitsubishi sells 3.4% interest in Strand Minerals (Indonesia) to Pacific Metals

December 2011

Client(s) Mitsubishi Corporation

Jones Day advised Mitsubishi Corporation (TSE-listed) ("Mitsubishi") in the sale of a 3.4% interest (out of its 33.4% stake) in Strand Minerals (Indonesia) Pte Ltd. ("Strand") to Pacific Metals Co., Ltd. (TSE-listed) ("Pamco"). Strand, a Singapore-based company controlled by the Eramet Group, owns 90% of PT Weda Bay Nickel, the project and exploration company of the Weda Bay nickel mining project on the island of Halmahera (Indonesia).

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