Nickel Mines is investing $151mn to raise its share value and the production capacity at two Indonesian mills under the RKEF project.
Currently Nickel Mines owns 60pc of the two mines – Hengjaya and Ranger Nickel and the balance 40pc is owned by Shanghai Decent. The Australian firm plans to increase its share in the projects to 80pc from 60pc through this investment, which will also increase its consolidated nickel production to 35,000mt from 26,000mt per year.
Nickel production in Hengjaya alone will increase from 13,00mt per annum to 17,500mt per annum, while output from Ranger Nickel will also increase by the same amount.