Nickel Mines Ltd. (AU:NIC) has released an update.
Nickel Industries Limited has signed agreements to acquire a significant nickel-cobalt project portfolio, the Sampala Project, with initial estimates indicating a resource of 187 million dry metric tonnes of 1.2% nickel and 0.09% cobalt. The strategic acquisition promises to expand the company’s existing operations within Indonesia’s prolific Morowali Industrial Park, leveraging a 15-year partnership with the seller. The majority of the acquisition payments are slated for 2026, with project development costs expected to be on par with the company’s current operations.
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