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Nickel Industries Limited (ASX:NIC)

ALERT: Price-sensitive ASX Announcement for NIC
Current share price for NIC : $0.865 -0.145 (-14.36%)+
Announcement
Release
25 May 2026 9:06AM
Price at Release
$1.010
Full Release
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Summary
Nickel Industries Limited has provided an update on the Sampala Project, highlighting significant advancements and strategic initiatives. The company submitted a feasibility study for the ANN IUP and anticipates ETL feasibility study approval by June 2026. An updated JORC Resource estimation shows 1,095 million wmt at 1.24% Ni and 0.09% Co, marking a 350% increase since September 2024. Nickel Industries made a $28.5 million advance payment for a 60% equity interest in ANN, facilitating key development activities such as a limonite slurry pipeline construction. The project continues to progress with about 800 local jobs created and a 90% completion rate for the 8 km of a 24 km haul road. The project positions Nickel Industries as a major holder of nickel resources in Indonesia, with the potential to be self-sufficient in saprolite ore.
Key Points
  • Submission of feasibility study for ANN IUP.
  • ETL feasibility study approval expected by June 2026.
  • Updated JORC Resource: 1,095 million wmt at 1.24% Ni and 0.09% Co.
  • Increased Resource estimation by 350% since September 2024.
  • $28.5 million advance payment for 60% equity in ANN.
  • Construction of limonite slurry pipeline commenced.
  • 800 local jobs created; haul road 90% complete.
  • Nickel Industries set to be self-sufficient in saprolite ore.
  • Sampala Project to position company as a top nickel resource holder in Indonesia.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.