A New Force in
Nickel Industries Limited (‘Nickel Industries’ or ‘the Company’) is an Australian public company emerging as a globally significant, low cost producer of nickel pig iron (‘NPI’), a key ingredient in the production of stainless steel.
Nickel Industries now holds 80% economic interests in the Hengjaya Nickel and Ranger Nickel projects, both of which operate 2 line Rotary Kiln Electric Furnace (‘RKEF’) plants producing NPI within the Indonesia Morowali Industrial Park (‘IMIP’). Nickel Industries also holds an 80% economic interest in the Hengjaya Mineralindo Nickel Mine (‘Hengjaya Mine’), a large tonnage, high grade saprolite deposit located in the Morowali Regency of Central Sulawesi, Indonesia.
In 2021, Nickel Industries has also acquired an 80% interest in the Angel Nickel project, comprising of four 54 KVA RKEF lines and a 380MW power plant, currently commissioning at the Indonesia Weda Bay Industrial Park (‘IWIP’).
Additionally in December 2021 Nickel Industries announced the signing of a Definitive Agreement with Shanghai Decent to acquire a 70% interest in the Oracle Nickel project, a development project comprising four RKEF lines with annual nameplate capacity of 36,000 tonnes of nickel and ancillary facilities. Oracle Nickel will also separately undertake the construction of a 380MW captive power plant. The transaction received shareholder approval at a general meeting of shareholders in January 2022 and the Company completed an initial 10% acquisition of Oracle Nickel in February 2022 and a further 20% acquisition in May 2022. Nickel Industries moved to a 70% interest in September 2022 and this was followed in November 2022 by the project producing its first NPI.
On 31 May 2022 at the Company’s AGM shareholders approved the change of the Company’s name from Nickel Mines Limited to Nickel Industries Limited. The new name was designed to reflect the Company’s transition from explorer and miner of nickel ore to a globally significant downstream processor of nickel metal.