NIC – Nickel Industries | Aussie Stock Forums

Nickel Mines is an Australian company that currently holds an 80% interest in the Hengjaya nickel mine located in Morowali Regency, Central Sulawesi, Indonesia, which mines nickel laterite ore. The northern-most boundary of the Hengjaya Mine is only 12 kilometres south of the Indonesia Morowali Industrial Park (IMIP), which is controlled by the Tsingshan Group.

The Company intends to expand its operations from exclusively being a nickel ore miner at the Hengjaya Mine to having the capability to process and produce nickel pig iron.

The Company entered into a Collaboration and Subscription Agreement dated 19 September 2017 (as amended by supplemental letter agreements dated 16 April 2018 and 2 July 2018) (CSA) with Shanghai Decent Investment (Group) Co., Ltd., a Tsingshan Group company and another cornerstone investor, Shanghai Wanlu Investment Co., Ltd.

The CSA sets out (among other things) the terms on which a 2-line Rotary Kiln Electric Furnace plant within the IMIP will be funded and constructed (RKEF Project).

Nickel Mines currently owns 25% of the RKEF Project.

It is anticipated that NIC will list on the ASX during Ausgust 2018.

https://www.nickelmines.com.au