Nickel Mines lists on ASX with $200 million IPO

By Dale Benton
An Australian nickel producer has completed one of the biggest IPOs on the ASX, officially entering the global nickel market. Nickel Mines has raised A...

 An Australian nickel producer has completed one of the biggest IPOs on the ASX, officially entering the global nickel market.

Nickel Mines has raised A$200 million in an IPO, which values the company at around A$485 million.

The IPO is one of the largest offerings on the ASX in the last 12 months.

 Nickel Mines is looking to become a globally significant, low-cost producer of Nickel Pig Iron which is a key ingredient for the production of stainless steel.

Its key asset is the Hengjaya Nickel Mine in Indonesia, which is a large tonnage, high grade saprolite deposit located in the Morowali Regency of Central Sulawesi.

Nickel Mines holds am 80% interest in PT Hengyaya Mineralinda (which subsequently holds 100% pf thee mine), with the remaining 20% owned by an Indonesian partner; the Wijoyo family.

Related stories:

Australian Mines enters off-take agreement for Sconi mine cobalt, nickel and scandium

MMG finalises sale of $25million Avebury nickel mine

 

Brazilian Nickel welcomes $72mn royalty agreement with Anglo Pacific

Anglo Pacific signs royalty agreement with Brazilian Nickel for Piaui project

 

In 2014, the Indonesian Government issued a ban on the exploration of unprocessed minerals, which forced production at Hengyaya to cease.

Last year, Nickel Mines signed a $200 million collaboration and subscription agreement with Shanghai Decent Investment, creating the Tsingshan Collaboration.

Under the agreement, and following a further offtake agreement signed late last year, Nickel Mines will supply around 50,000 wmt per month and  2 RKEF lines 1.5mt per year.

 

 

Share

Featured Articles

S&P Global: Copper Discoveries Fall, Despite Growing Demand

S&P global's latest major copper discoveries report reveals a significant fall in new copper finds over the past decade, despite higher exploration funding

US Private Mineral Rights System 'Drives Energy Innovation'

Forbes Media Chairman Steve Forbes explains how private ownership of mineral rights in the US is driving exploration and technological advancements

RAWMINA Tackles EU's Rare Earth Minerals Shortfall

EU's RAWMINA project showcases innovative solutions as European Union struggles to meet targets for rare earth mineral needed to fuel clean energy drive

BHP Warns AI Boom Could Worsen Copper Shortage

Technology

GEM: China Coal Mine Expansion Poses Methane Risk

Sustainability

Hitachi Construction Forges Ahead With Oracle Cloud

Automation & AI