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Industry NewsThe current position: Homepage > News > Industry News

Australia’s Nickel Industries to raise $471 million for acquisition of Indonesian nickel projects

Time:Thu, 19 Jan 2023 09:12:51 +0800

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Australia’s Nickel Industries Limited said that the company will raise US$471 million in capital for the acquisition of several nickel projects in Indonesia. Besides, in order to develop battery-used nickel, the company is also seeking to cooperate with Shanghai Decent Investment (Group) Co., Ltd., a unit of China's Tsingshan Holding Group.

Nickel Industries said it will buy a 10% interest in Indonesia-based PT. Huayue Nickel Cobalt for US$270 million from Newstride Development Ltd., an entity under China's Tsingshan Group.

Besides, it will also invest US$70 million to acquire a 10% stake in its 70%-owned Oracle Nickel Project in Indonesia.
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