Nickel Industries lifts ENC stake to 46% as flagship HPAL project enters commissioning

An update from Nickel Mines Ltd. ( (AU:NIC) ) is now available.

Nickel Industries Ltd has completed the acquisition of a final 2% stake in the Excelsior Nickel Cobalt HPAL project from Decent Resource for US$46 million, lifting its holding to 46% and making it the project’s largest shareholder. The ENC project is now in commissioning and is positioned as a next-generation HPAL operation with integrated downstream capacity to produce mixed hydroxide precipitate, nickel and cobalt sulfate, and nickel cathode.

Management highlights that ENC is the only HPAL project globally with integrated sulfate and cathode refineries, giving it flexibility to supply a range of high-quality nickel and cobalt products. With demand from electric vehicle, aerospace and aeronautical markets rising, the company expects ENC’s low-cost, traceable and more sustainable production profile to enhance its diversification, strengthen its role in the EV battery supply chain, and reduce its overall carbon footprint.

The most recent analyst rating on (AU:NIC) stock is a Buy with a A$1.10 price target. To see the full list of analyst forecasts on Nickel Mines Ltd. stock, see the AU:NIC Stock Forecast page.

More about Nickel Mines Ltd.

Nickel Industries Ltd is an ASX-listed producer of nickel with a portfolio of mining and low-cost downstream processing assets in Indonesia. The company controls the Hengjaya Mine and four rotary kiln electric furnace projects that produce nickel pig iron for the stainless-steel sector, and it has been shifting its output toward the electric vehicle battery supply chain through investments in HPAL projects producing mixed hydroxide precipitate and other battery-grade products.

Average Trading Volume: 16,142,124

Technical Sentiment Signal: Buy

Current Market Cap: A$3.8B

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