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Nickel Industries Limited (ASX:NIC)

ALERT: Price-sensitive ASX Announcement for NIC
Current share price for NIC : $0.880 0.045 (5.39%)+
Announcement
Release
2 Jan 2026 8:33AM
Price at Release
$0.835
Full Release
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Summary
Nickel Industries Limited (NIC), an ASX-listed company with nickel processing assets in Indonesia, announced a strategic partnership with Sphere Corp. Sphere, a South Korean company specializing in aerospace alloys, will acquire a 10% interest in NIC's ENC HPAL project, valued at US$2.4 billion. Sphere will also offtake nickel cathode produced by ENC. This partnership marks the first offtake agreement for ENC material to Western markets, particularly in the aerospace sector, which is projected to grow significantly by 2030. ENC, where NIC holds a 44% interest, is expected to produce 72,000 tonnes of nickel annually, enhancing NIC's production capacity and sustainability efforts.
Key Points
  • Sphere Corp. to acquire 10% interest in ENC HPAL project.
  • ENC project valued at US$2.4 billion.
  • Sphere Corp. a key supplier to SpaceX.
  • Sphere to offtake nickel cathode from ENC.
  • First ENC offtake agreement into Western markets.
  • NIC maintains its 44% stake in ENC.
  • ENC to produce 72,000 tonnes of nickel metal per annum.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.