Nickel Mines Limited (‘Nickel Mines’ 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 Mines 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 Mines 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 Mines 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 Mines 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.
Whilst we own a world class Nickel Laterite mine… This is not a mining story.
It’s a story about the production of the lowest capital intensive and some of the most profitable nickel units in the global market in partnership with the world’s largest, lowest cost stainless steel producer.