The Motley Fool Australia6-24

Nickel Industries to invest US$169 million for 17.5% stake in Indonesia’s TMI HPAL project

Nickel Industries Ltd (ASX: NIC) said it has agreed to invest US$169 million for a 17.5% stake in the PT Teluk Metal Industry (TMI) HPAL project in Indonesia, with payment expected in November 2026. The company said TMI has annual nameplate capacity of about 38,640 tonnes of nickel in mixed hydroxide precipitate (MHP), implying roughly 6,775 tonnes a year of attributable nickel based on Nickel Industries’ stake. The transaction includes a construction guarantee that caps the acquisition cost at US$169 million and requires TMI to reach nameplate capacity by September 2027. Nickel Industries said it expects to fund the investment from cash reserves and operating cash flow, with major shareholder Shanghai Decent providing debt funding on commercial terms if needed.

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