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Nickel Industries Limited (ASX:NIC)

ALERT: Price-sensitive ASX Announcement for NIC
Current share price for NIC : $0.883 -0.053 (-5.61%)+
Announcement
Release
24 Jun 2026 9:13AM
Price at Release
$0.935
Full Release
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Summary
Nickel Industries Limited (NIC) announced its decision to invest US$169 million for a 17.5% interest in the PT Teluk Metal Industry HPAL project (TMI). This project, an expansion to the ENC facility, is located within the Indonesia Morowali Industrial Park and will produce mixed hydroxide precipitate (MHP) primarily for the electric vehicle battery supply chain. The investment is secured with a Construction Guarantee, ensuring the acquisition cost does not exceed US$169 million and guaranteeing production by September 2027. TMI, with a nameplate capacity of 38,640 Ni tonnes annually, will provide Nickel Industries with approximately 6,775 Ni tonnes per annum. The investment aligns with NIC's strategy to become a key player in the EV battery supply chain and leverages its Sampala Project as the exclusive ore supplier to TMI. The company plans to fund this investment from cash reserves and operations, with Shanghai Decent ready to provide additional debt funding if needed.
Key Points
  • Nickel Industries to invest US$169 million for a 17.5% stake in TMI.
  • TMI located within the Indonesia Morowali Industrial Park.
  • The project to produce mixed hydroxide precipitate for EV batteries.
  • Construction Guarantee ensures cost cap and timeline adherence.
  • TMI's nameplate capacity is 38,640 Ni tonnes annually.
  • Nickel Industries' attributable production is 6,775 Ni tonnes per annum.
  • Funding will come from cash reserves with backup from Shanghai Decent.
  • Sampala Project is the exclusive ore supplier for TMI.
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.