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NIC goes 'strategic' in Indonesia on road to being global nickel powerhouse

GROWING ASX-listed nickel powerhouse Nickel Industries is selling a 19.99% equity interest to Indonesian heavy equipment and mining contractor United Tractors for $943 million in a strategic move that will also likely involve UT acquiring a 20% interest in the set-to-be built Excelsior Nickel Project that is now forecast to initially produce 72,000t per annum of nickel.

Michael Quinn
NIC goes 'strategic' in Indonesia on road to being global nickel powerhouse

UT will pay $1.10 per new share in NIC, a circa 27% premium to the ASX company's last trading price. UT's probable involvement in the ENC project will see NIC reducing its stake from 75% to 55%, with...

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