Nickel Mines Ltd. (AU:NIC) has released an update.
Nickel Industries Limited has secured a US$250M term loan to fund its acquisition of a 55% stake in the Excelsior Nickel Cobalt Project, aimed at diversifying its product line to include nickel sulphate and cathode, targeting the electric vehicle battery market. The loan, backed by major banks BNI and DBS, reinforces the company’s investment strategy into low-carbon, next-generation nickel production. This strategic move positions Nickel Industries to cater to different sectors within the class 1 nickel market, underlining its commitment to sustainable operations.
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