Shares in Nickel Industries (ASX:NIC) retreated during March 26 afternoon trade as the miner confirmed a suspension of operations at its Hengjaya Mine following a fatal workplace accident.
By 1:00 pm AEDT, the company’s stock had fallen 3.44% to 91 cents as investors reacted to the cessation of activity at the Indonesian site.
The halt follows a tragic incident on March 25 involving a contractor at the transmission line construction area of the Excelsior Nickel Cobalt HPAL Project.
Australia-listed Nickel Industries noted that the Ministry of Energy and Mineral Resources is scheduled to commence a formal investigation into the circumstances of the death on March 27, leaving the timeline for a full operational restart uncertain.
At the time of reporting, Nickel Industries' share price was $0.88.