Nickel Industries reports US$90M operating EBITDA

• Nickel Industries generated approximately US$90 million in combined adjusted EBITDA for July and August.
• The announcement saw company shares drop 1.3% in line with broader market trading.
• The performance was driven by record nickel ore sales despite temporary processing constraints in Indonesia.

Nickel Industries (ASX:NIC) recorded combined adjusted EBITDA of approximately US$90 million from operations across July and August.

The result followed a strong prior period where Hengjaya Mine sales contributed to half-year operational momentum.

Managing Director Justin Werner said, “The dry conditions in Central Sulawesi are an unusual and temporary constraint on water supply, and we expect availability to normalise with the onset of the wet season.”

Operations at the Hengjaya Mine delivered 3.1 million wet metric tonnes of nickel ore sales across the two months, capped by a monthly record of 1.6 million wet metric tonnes and a record monthly EBITDA of US$28.2 million in August.

The company stated that ramp-up activities at the Excelsior Nickel Project remain temporarily constrained due to dry conditions in Central Sulawesi.

Following the announcement, the Nickel Industries share price was down at $0.79.

The miner received an MHP exemption allowing material produced at the project to be sold following receipt of its industrial business licence expected in October.

Nickel Industries continues to expand its Indonesian mining footprint to secure long-term feed for its downstream processing facilities.