PT PAM Mineral Tbk. (NICL) plans to increase its nickel ore sales

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NewsFlash / Nickel / NICL Aims to Boost Nickel Ore Sales to 3.3 Million Tons by 2025

NICL Aims to Boost Nickel Ore Sales to 3.3 Million Tons by 2025

Apr 25, 2025 00:05

Source:SMM

PT PAM Mineral Tbk. (NICL) plans to increase its nickel ore sales volume to 3.3 million tons in 2025, up from 2.3 million tons in 2024. This includes a planned addition of 700,000 tons from its subsidiary. NICL currently operates two mines: PAM Mineral with 6 million WMT in reserves and PT Indrabakti Mustika (IBM) with 22 million WMT. For 2025, NICL targets production of 809,875 WMT and IBM 1.79 million WMT, aiming for total sales of 2.6 million tons of nickel ore with grades between 1.3% and 1.65% Ni. The company also plans to complete a new mine acquisition by 2025.

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Nickel prices continued to fluctuate this week, with inventory remaining at a high level. Nickel prices maintained the fluctuation pattern since mid-April, with the average price of SMM1# refined nickel at 126,850 yuan/mt, up 0.5% WoW. Inventory-wise, the Shanghai Bonded Zone inventory stood at around 5,800 mt, flat WoW, while the domestic social inventory was approximately 44,700 mt, with an inventory buildup of about 701 mt WoW. The high inventory level continues to suppress the upside room for nickel prices to some extent.

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