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13 stories mentioning ASX:NICUpdated 5d ago

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Asia

Nickel Industries Reports 4% Sequential Increase in Q2 Ore Production

Nickel Industries (ASX:NIC) reported second-quarter ore production of 4.1 million wet metric tonnes, up 4% from the first quarter, according to a Wednesday filing with the Australian bourse.The company's adjusted earnings before interest, taxes, depreciation, and amortization for mining operations increased 58% to $45.7 million in the second quarter from $29 million in the first quarter, per the filing.Meanwhile, second-quarter ore sales declined 5% sequentially to about 2.9 million wet metric tonnes as an eight-day suspension of mining operations in early April and associated contractor standby costs of $1.7 million weighed on quarterly performance.Nickel Industries also reported a unit operating cost for mining operations of $21.90 per wet metric tonne in the second quarter, up 40% from $15.70 in the first quarter.

ASX:NIC
Asia

Nickel Industries Says Indonesian HPAL Project Produces First Mixed Hydroxide Precipitate

Nickel Industries (ASX:NIC) said the Excelsior nickel cobalt high-pressure acid leach (HPAL) project in Indonesia produced the first mixed hydroxide precipitate in July, according to a Wednesday Australian bourse filing.The precipitate will be processed further to nickel cathode in the project's refinery, with the first cathode expected in August. It was produced from limonite ore supplied by the firm's Hengjaya mine, also in Indonesia.

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Asia

Nickel Industries Posts Higher Q2 Adjusted EBITDA From Operations; Shares Down 3%

Nickel Industries (ASX:NIC) reported second quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) from operations of around $120 million, compared with the $86 million it reported in the June 2025 quarter, according to a Friday Australian bourse filing.The company's mining operations contributed around $46 million to the result, around 60% higher than the $29 million it reported for the prior quarter.The RKEF operations were impacted by planned maintenance and higher costs, contributing around $60 million.Nickel Industries' shares fell nearly 3% in recent trading on Friday.

ASX:NIC
Asia

Nickel Industries Has Ability to Strike Net Present Value-Accretive Deals, Indonesian Policy Warrants Caution, Jefferies Says

Nickel Industries (ASX:NIC) can strike net present value-accretive deals, but caution is warranted because of "Indonesia's capricious policy regime," Jefferies said in a note on Monday.The model for Nickel Industries was updated to account for the $169 million acquisition of a 17.5% stake in the TMI HPAL and the share-for-share acquisition of a 36% interest in the CNE HPAL in exchange for an 18% stake in the Sampala mine.Ore supply agreements are believed to materially improve the likelihood of Sampala's securing an RKAB sufficient to support TMI and CNE's combined demand.The investment firm has a hold rating on Nivckel Industries with a price target of AU$1.05 per share.

ASX:NIC
Asia

Nickel Industries to Acquire 36% Stake in Indonesian HPAL Project in Share-for-Share Deal

Nickel Industries (ASX:NIC) struck a deal to acquire a 36% stake in an Indonesian high-pressure acid leach (HPAL) project as part of a long-term collaboration with its Indonesian partner in nickel ore mining, according to a Wednesday filing with the Australian bourse.Indonesian investor PT Jaya Agung Investasi has rights to acquire 85.7% of the equity in the HPAL project. Nickel Industries and its partner will acquire these rights in exchange for a 30% stake in mine companies PT Abadi Nikel Nusantara and PT Erabaru Timur Lestari, per the filing.The share-for-share transaction values the two mine companies at about $1.34 billion and the HPAL project at $671 million, both on a pre-money basis.In May, Nickel Industries agreed to acquire a 60% equity interest in the two mine companies for an aggregate of $149 million.Nickel Industries said it is now effectively monetizing an 18% equity interest in the two mine companies, at an implied acquisition cost of $44.7 million, in return for an effective 36% stake in the HPAL project at an implied value of $241.6 million.After the deal, which is subject to regulatory approvals, Nickel Industries will continue to be the largest shareholder and operator of the mine companies with a 42% stake, followed by PT Jaya with 30% and its local partner at 28%.The HPAL project is under construction with a designed annual nameplate production of 28,357 nickel tonnes. Its commissioning is expected to start in mid-2027.Shares of Nickel Industries fell 2% in recent Wednesday trade.

ASX:NIC
Asia

Nickel Industries to Invest $169 Million for 17.5% Stake in Indonesia HPAL Project

Nickel Industries (ASX:NIC) agreed to invest $169 million for a 17.5% interest in PT Teluk Metal Industry HPAL project, according to Wednesday Australian bourse filing.The company's 17.5% stake sits alongside a 72.5% interest held by a Korean-Japanese consortium, and a 10% interest by a Singapore-based investment company, Sumber International Investment, the filing said.The project is under construction, with commissioning expected to start in mid-2027, per the filing. Nickel Industries' Sampala project was identified as the exclusive ore supplier to the HPAL project.

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Asia

Nickel Industries Supported by Indonesian Nickel Policy, Says Jefferies

Nickel Industries (ASX:NIC) appears to be supported by existing Indonesian government policy on the HPM benchmark price formula, which is reinforcing nickel pricing and increasing royalty payments, Jefferies said in a note on Wednesday.The investment firm said weaker April earnings due to downtime at its Hengjaya operations and planned maintenance at ANI/ONI power plants were offset by higher nickel prices and catch-up ore sales in May, with second-quarter adjusted core profit reaching $80 million.The brokerage expects the company's nickel processing facility ENC to meet full production capacity by the second half of 2027 compared with previous forecast of third quarter of 2027.Jefferies maintained a hold rating and price target of AU$1 on Nickel Industries.

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Asia

ASX Preview: Australian Shares Set to Fall as Oil Slides on Iran-US Deal Hopes; Flight Centre Travel Group Cuts Fiscal Year 2026 Profit Guidance

Australian shares are poised to fall on Wednesday, tracking an overnight oil slide after crude dropped over 5% to a three-month low on easing Middle East supply fears and reports of a possible interim Iran-US deal to reopen the Strait of Hormuz and restore Iranian exports.Overnight, the S&P 500 and the Nasdaq Composite fell 0.6% and 1.2%, respectively, while the Dow Jones Industrial Average gained 0.6%.In the macroeconomy, investors are eyeing Reserve Bank of Australia Assistant Governor Brad Jones' speech and the Westpac-Melbourne Institute Leading Economic Index report.In corporate news, Flight Centre Travel Group (ASX:FLT) cut its fiscal year 2026 underlying profit before tax guidance to between AU$275 million and AU$295 million from a previous range of AU$310 million to AU$345 million, citing the Middle East conflict's "significant short-term impact" on leisure travel.Nickel Industries (ASX:NIC) said that its combined adjusted earnings before interest, taxes, depreciation, and amortization from operations for April and May were around $80 million.Australia's benchmark index inched up 3.7 points to close at 8,917.70 on Tuesday.

ASX 200ASX:FLTASX:NIC
Asia

Nickel Industries Reports Adjusted EBITDA From Operations of Around $80 Million for April, May

Nickel Industries (ASX:NIC) said that its combined adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) from operations for April and May was around $80 million, according to a Wednesday Australian bourse filing.The adjusted EBITDA from operations of $29 million for April was negatively impacted due to eight days of downtime at the Hengjaya mine in Indonesia, subcontractor standby charges, and planned maintenance of the rotary kiln electric furnace (RKEF) 720 megawatts integrated power plants requiring third-party electricity supply for the RKEF operations, the company said.The company's RKEF operations unwound a substantial amount of working capital, and it is expected to receive around $70 million in distributions by early July.Nickel Industries said it decided not to proceed with an investment in the ONI matte converter, citing stronger margins and carbon benefits of using high-pressure acid leach technology for class-1 nickel supply. Its largest shareholder, Shanghai Decent, refunded the $15 million option fee previously paid in 2023.

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Asia

Nickel Industries' Indonesia RKEF Operations May Swing to Loss-Making on Implementation of New HPM Price Formula, Jefferies Says

Nickel Industries' (ASX:NIC) rotary kiln electric furnace (RKEF) operations in Indonesia might swing to loss-making on the pass-through of the implementation of the new Harga Patokan Mineral (HPM) benchmark price formula, Jefferies said in a Monday note.Regulatory changes and supply chain disruption may re-cut the nickel cost curve, the note said.However, Nickel Industries' cost-curve position and integrated model provide structural insulation against industry-wide margin pressure, which the investment management firm believes would ultimately drive a supply-led recovery in nickel prices.At Hengjaya, implementation of the new HPM price formula, including the value of by-product credits, will increase the minimum saprolite sales price to around $60 per wet metric tonne from $29.90 per wet metric tonne and the minimum limonite sales price to around $47 per wet metric tonne from $19.90 per wet metric tonne.Market commentary suggests increased prices are not being passed downstream. If the costs are imposed at a whole industry level, this will increase HPAL cash costs by around 40%, while having an around 5% to 10% impact on RKEF operations.The investment firm assigned Nickel Industries a buy rating and a price target of AU$1.20 per share.

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Asia

Nickel Industries Updates Resource of Indonesia Nickel-Cobalt Project

Nickel Industries (ASX:NIC) reported an updated resource for the Sampala project in Indonesia of 1.10 billion wet metric tonnes at 1.24% grade of nickel and 0.09% grade of cobalt, for 8 million tonnes of nickel and 583 thousand tonnes of cobalt, according to a Monday Australian bourse filing.It is making an advance payment of $28.5 million to secure its right to acquire a 60% equity interest, including control and economic rights, in PT Abadi Nikel Nusantara, whose mining concession forms part of the project. Following the advance payment and before completion of the acquisition, PT Abadi Nikel Nusantara will be managed and operated as a joint venture between Nickel Industries and the vendor.The final acquisition payment of $144 million for a 60% interest in the PT Abadi Nikel Nusantara mining concession will be due in April 2027.It submitted the feasibility study for the PT Abadi Nikel Nusantara IUP during the March quarter and expects to receive the PT Erabaru Timur Lestari feasibility study approval during the June quarter.

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Asia

Nickel Industries Reports Higher March Quarter Adjusted EBITDA From Operations; Shares Hit Three-Year High

Nickel Industries (ASX:NIC) said its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) from operations came in at $135.6 million for the three months ended March 31, according to a Wednesday Australian bourse filing.The company's adjusted EBITDA from operations for the March 2025 quarter was $97.3 million, according to an earlier filing.Ore production from the company's mining operations came in at nearly 4 million wet metric tonnes, compared with 5.6 million wet metric tonnes produced in the same quarter in the previous year.The company produced 30,264 tonnes of nickel from its rotary kiln electric furnace project during the March quarter, compared with 31,793 tonnes produced in the year-ago period.The attributable production from HPAL operations was 2,153 tonnes in the March quarter, compared with 2,118 tonnes in the prior corresponding period.Nickel Industries' shares advanced 4% in recent trading on Wednesday and earlier hit their highest since February 2023.

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Asia

Nickel Industries Executes $450 Million Syndicated Loan Facilities Led by BNI

Nickel Industries (ASX:NIC) said it has executed new $450 million syndicated loan facilities led by PT Bank Negara Indonesia (BNI), comprising a $350 million term loan and a $100 million revolving loan facility, both unsecured, according to a Tuesday Australian bourse filing.The company said the facilities have been established to retire its existing $398 million of bank loans outstanding as of March 31, as well as for general working capital purposes.The interest rate will be a margin above the Secured Overnight Financing Rate (SOFR), currently about 3.66%, at 3.50% for the first six months and thereafter linked to the company's leverage level, the filing added.Following the refinancing, the company will have net debt of about $994 million, comprising $800 million of senior unsecured notes expiring October 2030, the $350 million term loan, and $100 million revolver, and $256 million in cash, it added.

ASX:NIC

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