[Nickel Industries: To Acquire Part of PT CNE Stake, Designed Annual Capacity of 28,357 mt Ni, Production Expected in Mid-2027] Nickel Industries announced it has entered into a long-term strategic cooperation and signed a framework agreement with a local Indonesian partner and Indonesian investor PT Jaya Agung Investasi (JAYA) for nickel ore mining and high-pressure acid leach (HPAL) processing. Under the agreement, JAYA will acquire an 85.7% equity interest in PT Chengsheng New Energy (CNE), while under the framework agreement such rights will be acquired by Nickel Industries and the local partner in exchange for a 30% interest in the two IUPs of the Sampala project, namely PT Abadi Nikel Nusantara and PT Erabaru Timur Lestari.
PT Chengsheng New Energy owns an HPAL project being developed on the same site as ENC within Indonesia’s IMIP as an expansion of ENC, producing mixed hydroxide precipitate (MHP) for the EV battery supply chain. CNE has an annual capacity of 28,357 mt Ni, with production expected to commence in mid-2027. Nickel Industries’ attributable MHP production is 10,208 mt Ni per annum.
