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Nickel Industries Secures Approval for Major Expansion at Hengjaya Mine

Story Highlights
  • Nickel Industries plans to increase Hengjaya Mine ore sales to 19 million tonnes annually.
  • Full approval for expansion is expected by late 2025, aligning with a major project launch.
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Nickel Industries Secures Approval for Major Expansion at Hengjaya Mine

Nickel Mines Ltd. ( (AU:NIC) ) has shared an announcement.

Nickel Industries Limited has received approval from the Ministry of Mines for a feasibility study to increase ore sales at its Hengjaya Mine from 9 million to 19 million wet metric tonnes per year. This development marks a significant step towards boosting the company’s production capacity, with full approval expected by the second half of 2025, aligning with the commissioning of their Excelsior Nickel Cobalt HPAL project. The company anticipates that this expansion will enhance its operational capabilities and strengthen its market position.

More about Nickel Mines Ltd.

Nickel Industries Limited is a company operating in the mining industry, primarily focusing on nickel and cobalt production. The company is involved in ore sales and has a significant stake in the Hengjaya Mine, with a strong emphasis on sustainability and ESG practices.

YTD Price Performance: -16.67%

Average Trading Volume: 10,212,759

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$2.81B

See more data about NIC stock on TipRanks’ Stock Analysis page.

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