Brief: Nickel Industries Notes Delays On Renewal Of Rencana Kerja Dan Anggaran Biaya Indonesian Licence

Nickel Industries

18/03/2024 01:28

March 18 (Reuters) - Nickel Industries  NIC.AX :
    * NOTES INDUSTRY-WIDE DELAYS ON RENEWAL OF RENCANA KERJA DAN
ANGGARAN BIAYA INDONESIAN MINING LICENCE
    * HENGJAYA MINE WAS IMPACTED BY APPROVAL DELAYS WHICH MEANT
IT WAS
UNABLE TO SELL ORE IN JANUARY AND MOST OF FEBRUARY
    * DELAY CAUSED IN PART BY ENHANCED REGULATORY APPROVALS AND
SCRUTINY ALONGSIDE RECENTLY COMPLETED INDONESIAN PRESIDENTIAL
ELECTIONS
    * AS AT 15 MARCH HENGJAYA MINE HAD SOLD 369,260 WMT OF ORE
FOR
MONTH OF MARCH AND ON TRACK FOR RECORD MONTH OF ORE SALES
    * SEES EDITDA FROM HENGJAYA MINE FOR MARCH QUARTER TO BE IN
RANGE
OF US$65M-US$75M
    * ADDITIONAL HAUL TRUCKS BEING MOBILISED TO HENGJAYA MINE IN
APRIL
WHICH WILL ALLOW INCREASED VOLUMES TO BE SOLD ACROSS JUNE
QUARTER
    * TARGETING REVISED RKAB LICENCE IN H2 2024
    * SEES PRODUCTION AND EBITDA IMPROVEMENT THROUGHOUT 2024 FOR
HENGJAYA MINE

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