Nickel Industries shares lower as EBITDA falls
Make us a preferred source
Make us a preferred source on Google
The news: Nickel Industries shares lowered on the ASX after the nickel miner's EBITDA tumbled in the December quarter.
The numbers: Nickel Industries shares were down 1.3% to 79 cents by 11:45am AEDT.
Nickel production from the miner's 80% owned rotary kiln electric furnace (RKEF) projects based in Indonesia rose 6.9% quarter on quarter to 32,784 tonnes.
However, RKEF EBITDA fell 63.2% to USD22.1 million. The miner's Hengjaya mine swung to an EBITDA loss in December, as the site reached its annual sales quota of nine million tonnes of ore early in the month. Nickel Industries said the quota for the mine has now been reset to nine million tonnes for 2025, with the company seeking to increase the quota to 19 million tonnes.
The context: The Sydney-based mining business also announced its exploration target at its newly acquired Sampala nickel project in Indonesia. Managing director Justin Werner said the target of 350 to 700 million dry metric tonnes (dmt), in addition to an existing 187 million dmt resource, makes Sampala "possibly one of the largest known nickel deposits globally".
The sources: ASX announcement, ASX announcement
