Approval received for techno economic feasibility study to increase ore salesfrom 9 million to 19 million wet metric tonnes per year
Environmental impact study will now be submitted
Targeting full approval by second half of 2025 to coincide with Excelsior Nickel Cobalt HPAL commissioning
Nickel Industries Limited (Nickel Industries or the Company) is pleased to advise that it has received approval from the Ministry of Mines (ESDM) for its techno economic feasibility study (Feasibility Study) to increase the Company’s 80%-owned Hengjaya Mine from 9 million wet metric tonnes (wmt) pa in ore sales to 19 million wmt pa.
Now that the Feasibility Study has been approved, the Company will shortly submit an environmental impact study (AMDAL), which is the next step to achieve an increased Rencana Kerja dan Anggaran Biaya (RKAB), the triennial work and budget plan for operations.
Commenting on the approval of the Feasibility study, Managing Director Justin Werner said:
“The approval for our Feasibility Study marks an important milestone towards gaining approval to increase Hengjaya Mine ore sales from 9 million to 19 million wmt pa. The Company has already prepared an AMDAL and will submit it shortly.
Given Hengjaya Mine’s excellent sustainability and ESG record, we remain confident of receiving all approvals by the second half of 2025, which will coincide with our ENC HPAL project commissioning.
The Hengjaya Mine economics are currently very strong, delivering EBITDA of US$101M from 9 million wmt of sales in 2024 (with approximately 65% attributable to the second half of the year).”
READ THE FULL ANNOUNCEMENT HERE
About us:
About Nickel Industries Limited
Nickel Industries Limited (NIC) is an ASX-listed company which owns a portfolio of mining and low-cost downstream nickel processing assets in Indonesia.
The Company has a long history in Indonesia, with controlling interests in the world-class Hengjaya Mine, as well as four rotary kiln electric furnace (RKEF) projects which produce nickel matte for the electric vehicle (EV) supply chain and nickel pig iron (NPI) for the stainless-steel industry.
Having established itself as a globally significant producer of NPI, the Company is now rapidly transitioning its production to focus on the EV battery supply chain – recently, the Company has acquired a 10% interest in the Huayue Nickel Cobalt (HNC) HPAL project, adding mixed hydroxide precipitate (MHP) to its product portfolio.
Nickel Industries is now embarking on its next transformative step, investing in Excelsior Nickel Cobalt (ENC), a next-generation HPAL project capable of producing MHP, nickel sulphate and nickel cathode. ENC is expected to produce approximately 72,000 tonnes of nickel metal per annum, diversifying the Company’s production and reducing the Company’s carbon emissions profile – reflecting the strong commitment to sustainable operations.
To learn more, please visit: www. nickelindustries.com
Contact details:
Nickel Industries Limited (ASX:NIC)
Justin Werner
Managing Director
jwerner@nickelindustries.com
+62 813 8191 2391
Cameron Peacock
Investor Relations and Business Development
cpeacock@nickelindustries.com
+61 439 908 732
Investor Relations
The Capital Network
Julia Maguire
+61 2 7257 7338
julia@thecapitalnetwork.com.au
