ENERGY MINERALS

Nickel Mines looks towards EV battery market

NICKEL Mines is looking at increasing both its margins and leverage to the burgeoning EV battery world by converting two of its ten nickel pig iron lines in Indonesia to matte production.

 Modifications to producer nickel matte on Nickel Mines' horizon, Indonesia

Modifications to producer nickel matte on Nickel Mines' horizon, Indonesia

Nickel matte is a precursor to the production of nickel sulphate, the key material used to produce cathodes for lithium-ion batteries.

Nickel matte is currently priced higher than NPI, and Nickel Mines claims the cash cost of producing the two products is comparable.

Further, the modification cost is insignificant, with Nickel Mines putting it at about US$1 million per line.

The potential move into nickel matte production comes via an MoU signed with Nickel Mines' major shareholder Shanghai Decent, which itself is owned by Tsingshan, the world's largest stainless steel producer.

Tsingshan developed the NPI operations in Indonesia Nickel Mines has a small stake in - albeit a stake that translates to currently growing production profile of more than 50,000tpa of nickel - and was the recent developer of the process enabling NPI production to be converted to matte capacity.

Shares in Nickel Mines traded Monday at A$1.11, capitalising the ASX-listed company at $2.8 billion.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.