Australia’s Nickel Industries to seek shareholder nod for $620m share placement

  • Tuesday, August 8, 2023
  • Source:ferro-alloys.com

  • Keywords:nickel, ore, steel
[Fellow]Australia’s Nickel Industries said on Monday it would seek shareholder approval for a A$943 million ($620 million) share placement to pursue growth opportunities including potential expansion at its Excelsior Nickel Cobalt (ENC) project in Indonesia.

[Ferro-Alloys.com] 

Australia’s Nickel Industries to seek shareholder nod for $620m share placement

Australia’s Nickel Industries said on Monday it would seek shareholder approval for a A$943 million ($620 million) share placement to pursue growth opportunities including potential expansion at its Excelsior Nickel Cobalt (ENC) project in Indonesia.
 
The nickel producer entered a share-sale deal in June to issue about 20% of its shares to PT Danusa Tambang Nusantara, a unit of Indonesia’s PT United Tractors Tbk, at a price of A$1.10 per share.
 
The share placement will provide Nickel Industries an opportunity to investigate potential for doubling the production of its ENC project in Indonesia via a stage 2 expansion and support its diversification efforts.
 
The company said it would convene an extraordinary general meeting of shareholders on Sept. 8.
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  • [Editor:邢亚敏]

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