Nickel Industries (NIC) has announced a robust performance for the quarter ending September 30, 2025, with significant increases in adjusted EBITDA from both its rotary kiln electric furnace (RKEF) and high-pressure acid leaching (HPAL) operations. Nickel Industries is a leading Indonesian nickel producer with a strategy to create a globally significant, diversified nickel business. The company holds substantial interests in various nickel projects, including RKEF, HPAL, and mining operations.
During the quarter, Nickel Industries reported an adjusted EBITDA of US$87 million. The RKEF operations saw a 20% increase in EBITDA, driven by a 5% decrease in cash costs. HPAL operations also experienced a 21% increase in attributable EBITDA, bolstered by increased sales and by-product credits from cobalt. However, the Hengjaya Mine experienced reduced sales in September due to delays in securing an increased RKAB quota, impacting its overall EBITDA for the quarter.
Nickel Industries also highlighted its commitment to safety, achieving a 12-month rolling lost time injury frequency rate (LTIFR) of 0.00, with no lost time injuries recorded over 18.5 million man-hours worked. Furthermore, the company issued US$800 million in senior unsecured notes at a 9% coupon, using the proceeds to tender existing notes and repay bank loans. This move extends debt maturities, reduces debt costs, and removes significant annual amortisation payments.
The company continues to advance its Sampala and Siduarsi projects, with the Sampala project progressing towards a production license of 6 million wmt of ore per annum. Nickel Industries also received multiple awards for its sustainability efforts, underscoring its commitment to ESG excellence in the mining sector.
